Today, we live in a world where many of the competing central banks have actually dropped their interest rates BELOW zero, providing the most incentive ever to borrow. In fact it is currently estimated that there are $13 Trillion in negatively yielding bonds globally.

The FOMC has chosen to remain positive in their interest rate policy. And I think this is wise. The long term effect of negative rates has not yet been demonstrated. But I believe the impact on savings especially, will hold dire consequences for those economies who have chosen to go down this path.