It wasn't the Fed that raised rates, it was the Brad and the kanosians:

No. The Fed Was Wrong to Raise Interest Rates

There, see the red line following the blue line?  That blue line is you, Brad, you demanding more treasury debt as you have done since the crash.

Now you got the interest charges you demand, how did you plan on spending the money? You have some big investment for government that we do not know about?

But wait, you say, the natural rate is lower.  

The government is naturally borrowing money and driving up rates, about as natural for this republic as usual.  It is perfectly natural for politicians to give into the borrow impulse. and perfectly natural for economists to demand more debt, and perfectly natural for the USA to have eight year boom/bust cycles, nothing unnatural about it,  we been doing it since the founding.

I just never figured out what this huge investment is I have been paying for.