Yup.

What Mises called malinvestments. With artificially low interest rates wealth was transferred from savers to the benefit of debtors so the subsidized debt could be spent on malinvestments. Investments that never would have been made had the interest rate been determined by market forces(likely much higher) rather than by the Fed group of academic PHD's that are long Keynesian theory and short on actual business and economic experience.

John