You ask yourself, to what level would the Fed fund's rate have to rise to trigger
the next credit crisis, and that level is in the region of 2.5 %.
The real question will come when we have
the next credit crisis?
Under ordinary circumstances, this would implicate China, but the Chinese government probably has enough resources to cover
their next credit crisis.
And well,
the next credit crisis will be much, much worse because there's much more debt there and because the tricks that were used to stop the last credit crisis have already been used.