> How else would interest rates be set? By a free market, the same way it was set for a very long time. It gets decided by how many people borrow at a given r

> How else would interest rates be set? By a free market, the same way it was set for a very long time. It gets decided by how many people borrow at a given rate, which will typically raise or lower the rate. Some one will make small adjustments around the broader market rate; if enough people make those small adjustments in one direction, the range moves.