Karin Kimbrough, managing director and head of macro and economic policy at Bank of America Merrill Lynch, discusses:

• How central banks’ quantitative easing has affected both global economic and productivity growth
• Why the global economy of 2015 seems in a funk
• Her scenarios for base interest rates over the next 5–7 years, including the scenario that investors seem least prepared for
• Evolutions in macroeconomic theory she believes are worthy of investor attention

The Take 15 Series is a series of short interviews with leading practitioners on timely topics focused on the investment profession.