IT was just about a year ago that interest rates began falling sharply, a decline that the Nixon Administration and private economists have since been counting on to help lift business out of the 1970 recession. But in the past three to four months, the rates have been rising again (see chart) and the bounceback has gone high enough to stir worry. Henry Kaufman, a partner of Salomon Bros., warned last week that a continuation of the rise would "eventually abort the economic recovery" by making financing difficult.
Last week New England Telephone & Telegraph Co. sold $200 million worth...
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