No wonder ‘higher and longer’ has been abandoned when it comes to interest rates:
More than $100 billion in commercial real estate loans on US office buildings will mature over 2024, presenting owners with a formidable refinancing challenge. With interest rates significantly higher compared to when most of these loans originated in the last decade, billions in losses appear inevitable amid depressed property valuations.
Now ‘higher and longer’ will apply to inflation
I hope we all realize that $100 billion is minuscule in the world of debt in the USA. I mean, the treasury does more than that every Tuesday and Thursday (not combined, each day!) Much of that $100B will be restructured such that the current equity holders lose all, the existing debt holders lose a bunch, and the new debt holders will own the asset. But the number itself shouldn’t be so scary.
The way currency is being devalued I suppose that you might have a point 
Too true. The US government has to refinance $7.6 trillion in 2024
Now if you want to quote a better reason why interest rates have to drop … this may be it.