While such actions could be politically motivated, the evidience is that it’s employment based.
Under the law that created the Federal Reserve, the Fed’s number one goal is full employment, followed by low inflation and then moderate interest rates.
Under Obama the economy was so bad, and unemployment so high that the Fed needed to keep rates low. Under Trump, consumer optimism has been restored. Businesses are making the decision to produce in the U.S. because they know Trump will restore the import tariffs. The stock market is soaring, new jobs are at a 15 year high.
There is no need to think conspiracy when the evidence is that the Fed is doing what they should be doing. And that it is the success of the presidencies that are driving the Fed actions.
United States Notes - JFK
I don’t see a conspiracy here. Banks should soon follow suit for savers.
For those on an ARM it’s still a gamble.