Checked it out, Americans' core loans are basically mortgages, car loans, student loans, and credit cards... But the ones that have an immediate impact are definitely mortgages and credit cards. If the interest rates directly affecting ordinary people are controlled by the government, then the Fed's rates are really just at the financial level, not impacting people's daily lives. This power grab is pretty aggressive, no wonder they’re not in a rush to push for a new Fed chair recently. Turns out they’re aiming for a power grab.