The next recession/depression is inevitable, the big questions are how much longer do we have until it hits and how deep will it be?

Raising rates too fast could trigger a recession, but if we leave rates at the "emergency" low level they are at now we won't have much in the way of monetary policy tools when the recession does hit.

Historically speaking we've had periods of economic weakness about every 9 or 10 years going back to the end of WWII.  It has now been 8 and a half years since the last recession started.