I'll make a prediction and hopefully it won't be as bad as jbog's 2009 prediction of "Zimbabwe-like inflation" hitting the U.S.
I believe the spike in interest rates will subside in the next three to nine months. Unemployment will remain stubbornly high and inflation will remain very subdued. I think all this talk of "tapering" and the end of quantitative easing will be a thing of the past in the next six months as the FED's economic expectations of higher growth and lowered unemployment are not met. Essentially, I agree with Bill Gross.