"Federal Reserve chairman Jerome Powell had one overriding message for markets Wednesday: Stop obsessing over how fast rates are rising, and start focusing on how high they get. " (WSJ November 2, 2022).

Discuss how high interest rates could affect corporate policies (e.g., corporate financing/capital structure, corporate investments, M&A, corporate cash holdings, corporate payouts, etc. You can choose one or more than one corporate policies for discussion).