The United States is entering a new economic era as the Federal Reserve hikes its benchmark interest rate.
As interest rates climb, economists say financial conditions are headed back to being more normal.
Government bonds, Treasury securities and savings accounts all return very little yield when interest rates are low.
At the same time, low interest rates increase the value of stocks, homes and Wall Street firms that make money by taking on debt.
"Barring a catastrophe, I don't think we'll see lower interest rates any time soon," said Mark Hamrick, Washington bureau chief at Bankrate.com.
Persons:
Roger Ferguson, we'd, Gregory Daco, Mark Hamrick
Organizations:
Federal, Federal Reserve, Wall Street
Locations:
States, America, EY, Washington, Bankrate.com, U.S