A gradual increase in interest rates actually will benefit the economy at this time.
When rates are rising it benefits businesses to borrow NOW and invest in capital improvements like new factories. This is because they anticipate the TERMS are better NOW than in the FUTURE.
It’s a little counter-intuitive.
The only ones benefiting from Obama/Yellin’s artificially low rates are the giant banks that can trade CRAP in their derivatives casino and NEVER ACTUALLY MAKE BUSINESS LOANS, especially to small businesses.