https://www.stlouisfed.org/on-the-economy/2022/aug/changing-interest-rates-affe… Created Tue, 16/08/2022 - 19:30 Updated Tue, 16/08/2022 - 19:30 Data suggest that lending activity in variable-rate bank loans to U.S. firms responds more strongly to rising and falling benchmark interest rates like LIBOR.