The prime rate is correlated with the federal funds rate and tends to move along with it. The bank prime loan rate reached as high as 20% in 1981, when the federal reserve was led by Paul Volcker, and the interest rate environment was extremely inflated.
Back in 1980, America was the worlds biggest creditor nation. Now we’re the biggest debtor in all of human history. 20% prime today would collapse our economy as bad as the Great Depression.
On the other hand, if we don’t raise rights, the economy will collapse in hyper inflation. So do you want to be bitten by a rattlesnake? Or mauled by a mountain lion? Those are Americans choices