The Globe and Mail reports in its Monday, Aug. 24, edition that the era of low interest rates is over. A New York Times dispatch to The Globe says the economic hangover is starting as long-term United States government debt interest rates reach their highest level in nearly 20 years. Yields on government bonds are rising globally, with a recent Treasury Department intervention only briefly halting this trend. As a result, borrowing costs are increasing for homebuyers, businesses and the federal government. Economists say higher rates are in some ways a return to a more normal period. The real aberration, they say, was the nearly two decades of ultralow rates that followed the global financial crisis in 2008. Mr. Trump spent months haranguing the Fed to slash borrowing costs, and this year appointed a new chair, Kevin Warsh, who he believed would do so. But stubborn inflation, partly a result of Mr. Trump's decision to go to war with Iran, has taken cuts off the table. Investors now think the Fed is more likely to raise rates this year than anything else. Policy-makers who have called for higher borrowing costs -- of whom there are now several -- point to the economy's resilience as a clear sign that rates are too low.