http://finance.yahoo.com/m/9357b019-9ee4-34db-b03a-1b852095997b/expect-four-fed-rate-hikes.html
If risk-free rate goes up to 3.5% by the end of 2017, many things will go awry. Many people will suffer investment losses and product prices will become a lot more expensive because of high inflation. Economic growth will become anaemic and we'll be entering an era of stagflation which is difficult to handle. Economists have great difficulties dealing with stagflation than inflation or deflation.
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