«Last call at the bar» Raising fed funds rates shift growth into the present, and lowers future growth. (alephblog.com)
This may be a bit misleading because the expected fed funds rate in 2020 of 1 percent includes some probability that it is zero because of a recession. (larrysummers.com)
Eventually, rates on savings do respond to higher fed fund rates through the miracle of competition. (lendedu.com)