Do we really need to worry if the Fed raise rates?

My answer is we should not be too worried. Yes, the world economy has experienced a long period of zero interest rate policy since the financial crisis. Benefiting from this policy, firms can issue cheap bonds to expand their business, more jobs have been created. If the Fed decides to raise rates, those benefits seem to disappear. Many firms have already started to issue more bonds as they want to take advantages of low interest rates before the Fed raises rates. However, even if the Fed raises rates, rates are likely rise slowly. The Fed reserve interest rate is predicted to be at 0.625% by the end of 2015, 1.625% by 2016 from June 2015 meeting. In the long run, the rate is likely to be raised to 3.75%. Moreover, because the markets are “over-reacting”, the Fed may eventually raise rates lower than it previously predicted. In conclusion, if the Fed decides to raise rates, it will only raise by a small extent, that will not damage its domestic economy as well as the world economies.