Are Low Interest Rates Good for Investors?

The spectacular decline in global interest rates, both here and abroad, has been viewed as a necessary tonic to reinvigorate the sluggish global economy. But will a sharp reduction in short-term interest rates engineered by the Fed result in a new economic boom and a powerful rally in stock prices? Or is the experience of the European and Japanese economies more likely, in which negative yields on sovereign bonds have failed so far to generate a sustainable pickup in economic growth?