"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered." - Thomas Jefferson

And he's right. The rates were low for a long time, but now they've jacked them up very quickly in the last half-year: https://tradingeconomics.com/united-states/repo-rate

Ostensibly they're doing it to counteract the massive inflation caused by all the covid stimulus (and loose money printing prior to that) where some 60% of the total money supply has been created in the last 2 years because of these 0% interest rates for the biggest banks.

But now they're yanking the chain by raising the rates. They're now shifting in to "deflation mode" to try and get inflation back down to only 2% per year, as is their stated goal. But doing this is basically going to crash the economy because they're now making lending money hard to get, mortgages hard to get, etc. So the housing and stock markets and crypto are all probably about to crash, because the easy money is going bye-bye very quickly as they raise central bank repo rates.

Not looking good. Thomas Jefferson fucking called it. This is a huge danger and we are facing it right now worse than ever. But most regular people have no idea, they just see gas and food getting more expensive and the news convinces them it has something to do with russia and war, instead of years of insane lending policies that have created the biggest bubble the world has ever seen. And now central banks (of almost every nation because they all did the same thing) have to choose between runaway inflation, or stopping the inflation that tightens the money supply and will collapses the economy that's basically a giant bubble. Lose-lose.

Buckle up.