Global economic growth is likely to remain frustratingly fragile for some time, according to local investment giant Vanguard, which just recently posted its 10-year economic and investment outlook.

Vanguard’s outlook for global stocks and bonds is the most guarded since 2006.  The firm is underscoring the U.S. economy’s resiliency, saying a cyclical thrust above 2 percent trend growth should endure.

Vanguard is also predicting the U.S. Federal Reserve will likely raise rates in 2015.

Read Vanguard’s full forecast here.