The Outlook for a New Era of No Longer Cheap Money.

Reports that the Federal Reserve Board is poised to raise its benchmark rate by a quarter of a point to 1.25 percent, up from a 46-year low, and to continue the increases for months on end. Likelihood that rates will remain low, compared with almost any period expect the last few years; Creation of a new economic dynamic; Exposure of hidden problems by raising rates; Potential for investors to flee riskier investments in favor of safe ones that will now bring a higher return; Impact on adjustable rate mortgages and cash flow.