Interest Rates Will Spike This Year: Soros

From cnbc.com

There will be a dramatic rise in interest rates as soon as there are clear signs the U.S. economy is picking up, billionaire financier George Soros told CNBC. Soros said that the U.S. needs to reestablish growth to help shrink its debt pile and that the Federal Reserve's policy of buying U.S. debt, is the right one since it doesn't add to the net amount of debt outstanding. "It's about as close to a free lunch as you can get," he said. But there is a risk, Soros warned, "Once the economy gets going, then interest rates are going to take a big leap." He called it a "delicate two-phase maneuver," where first ... (full story)