"... we think the Fed will raise rates three times next year, on top of this year’s three rate hikes, counting the almost certain hike this month. And a fourth rate hike in 2018 is still certainly on the table. ...Rising rates won’t kill the recovery or bull market anytime in the near future. Higher interest rates reflect a higher after-tax return to capital, a natural result of cutting taxes on corporate investment via a lower tax rate on corporate profits as well as shifting to full expensing of equipment and away from depreciation for tax purposes. Lower taxes on capital means business will more aggressively pursue investment opportunities, helping boost economic growth and the demand for labor – leading to more jobs and higher wages. Stronger growth means higher rates."
(Don’t Fear Higher Interest Rates dated December 4, 2017 by Brian Wesbury, Chief Economist, Robert Stein, CFA & Dep. Chief Economist, and Strider Elass, Economist, with First Trust Advisors LP)
http://www.ftportfolios.com/Commentary/EconomicResearch/2017/12/4/dont-fear-higher-interest-rates