The markets are hanging fire waiting for Federal Reserve Chairman Janet Yellen's annual speech at the Jackson Hole, Wyoming conference Friday. First question, of course, is what will happen to the federal funds rate and how that will affect interest rates and, potentially, deals. Economist David Levy talks about those matters, as well as the Fed's focus on the labor market. His views on emerging markets and their potential for corporate growth may come as a surprise to dealmakers--Levy recommends that companies start looking domestically, instead of abroad for growth. But cheap debt for some time to come will still be likely to fuel deals.