Interest rates have to be raised, the question is can it be done with the mess federal financing is in. GWB created near-zero interest rates "temporarily" so the gov could get spending under control. Now we have a third administration and Legislative Branches from both political parties continuing out of control spending. For President Trump to complain about the interest rates being raised when he signed those irresponsible budgets makes me wonder about his Economics knowledge.
I'm not atypical. I have a relatively modest retirement account that I'll have to start using to balance the budget. It would be about 25% higher now if interest rates were about 4%. People can't save if interest isn't paid on savings. And the budget makers in DC won't restrain spending if the path we've been on continues.
If you want to hobble the economy so you can make money on a savings account, screw you. The universe doesn’t owe you riak-free, do-nothing profits.