They're fucked, though. If they don't raise interest rates inflation will consume their profits. All the outstanding debt owed them by mortgage holders, student loan borrowers, etc. is priced at rates far lower than inflation. That means you actually *make* money by borrowing because you're locking in the value of that money to the time when you borrowed it. The lender is losing buckets of money. On the other hand, increasing interest rates will tank the real estate bubble and put us right back in 2008. Good luck Mr. Fed.