The Fed does not set rates

This fact has been mathematically proven so many times since 1980, it is in the charts. The Fed follows the one year.

What the Fed does set is the Fed tax it collects from retail banking, the Treasury take on interest income. The tax has one specific rule.  Treasury depends on that tax and it is likely not going to be decreased. It will likely be doubled in size before the recession recovers.

The tax is passed down to lower middle class bank clients. It is highly regressive.

The second thing abouts rates being low.  Niot for congress which is still paying over two percent for existing debt, debt on the books. And we have done these numbers so often it is not worth repeating. The formula is interest paid divided by total debt. If you leave out the SS fund then drop that portion of interest paid, the number will still be over two percent.

The economists who have been saying rates are cheap have been fraudulent and have cost Treasury trillions in losses since 1980. After the rebellion antificants will be hunting down these fraudulent economists.

At this point it should be clear to every thinking person on this subject, a partial default is on the way, and this is the usual path.