The problem with raising interest rates is people will start losing their job/incomes. The system needs changed not tweaked, its been tweaked to death.

Also, whomever controls the creation, allocation and distribution of money governs, they rule government and can control the polity. The Fed is owned by the big banks who are in turn owned ultimately by BlackRock/Vanguard. So the conflation that the Fed is run by what we think is a publicly elected government is not accurate. We the People have no government, we are ruled by their government.

So, We the People need to take back the money power, ending their governance, and create the government we should have with publicly issued money exclusively directed to the general welfare as its first use. All Fed money would become US money and instead of being destroyed as the principals of existing loans are paid off, the money would go back to the government to be recirculated into the productive economy. This is all electronic, of course, in case people imagine the money has been printed lol. The government mints and prints the currency (cash) and sells to the banks for cost of production. Only a tiny percentage of the money supply circulates as cash, all of which represents numbers in the eletronic ledger.

We complain to a do-nothing government not understanding that they have no power to do anything for the people, they are ruled by a financial dictatorship and they do what they are told or they lose their seat. We the People need to empower a Congress that will serve us. We need be collectively smarter than those fools, not divided over everything one can imagine. That too is the fault of the money system, keep us divided so we don't look at the 'hidden hand.'