> They really can't raise interest rates much above 5%, this follows straightforwardly Keep in mind this headline 5% rate is an overnight interest rate, not wh

> They really can't raise interest rates much above 5%, this follows straightforwardly Keep in mind this headline 5% rate is an overnight interest rate, not what the Treasury actually pays on the national debt. All treasuries between 2-30 years are trading below 4% today, and obviously long term debt issued when rates were lower remains at those low rates today.