"If we ended up with a slightly higher interest rate environment it would actually be a plus for society's point of view and the Fed's point of view."
"Yellen's first mistake is the belief that higher interest rates are the way to cool inflation. Interest rates are not a leading indicator; they are a lagging indicator. Higher interest rates do not signal coming inflation. They signal that inflation is already here..."Higher rates are not generally bad. Higher rates are usually associated with stronger growth. They mean that growing businesses are competing for funds and willing to pay more to get them. Banks can pick and choose from among borrowers and charge higher rates as a result. In short, higher rates can signal a strong economy."