The Fed is getting ready to raise U.S.'s interest rates, and that means the cost of money is going up.

美联储正准备提高美国国债的收益率，这意味着资金成本在上升。

If they have a large construction project, it's their cost of money as well, right?

如果他们有一个大型建设项目，这也是他们的资金成本，对吗？

I look at them as it's a future cost of money upon which a lot of lenders base their fixed rates on.

我将它们视为未来的资金成本，许多贷方都将其作为固定利率的基础。

If interest rates go up a lot, then they're in trouble because the cost of money's gonna be too high to more than offset with the merchant discount rate.

如果利率上升很多，那么他们就有麻烦了，因为资金成本太高，无法抵消商人的贴现率。