The current interest rate environment is not a product of the economy, but rather extraordinary intervention by central banks around the world. When 0% interest rates alone weren't enough to juice the economy during the 2008 financial crisis, central banks began buying debt. (The graph below shows the Fed's total assets) With willing buyers not based on profit motivations, interest rates have been held low. Except, even with this pressure, treasury rates are rising. While that has spooked the stock market over the last month, I see it as a good sign that people aren't trying to buy safety at any cost.
And the US is particularly skewed, because there also are a large number of foreign buyers, particularly from the EU trying to escape nominally negative rates--in Germany and Switzerland, you are charged for the privilege of depositing your money.
Having said that this is a novel situation, and nothing natural, it will also take some novel situations to get out of it. It won't last forever, but there will be some bumps in the road for the Fed to get out of this business.