When the Federal Reserve drove its target interest rate near zero in late-2008, it sparked an economic debate about the risks of having nowhere lower to go, and in particular the financial bubbles it might stoke.

The Dow Jones industrial average closed above 16,000 for the first time today as encouraging news on the job market pushed stocks higher.

US TREASURY Secretary Timothy Geithner reassured investors that White House and Republican lawmakers will reach a deal to control the nation’s finances, downplaying a warning that the government risks losing its coveted debt rating if it fails to do so.