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Yes, that would be the market interest rate based on supply/demand, as any other good. If supply >> demand (a lot of people have a capital they don't know what do to with) then you get a low interest rate, otherwise a high interest rate.

Centrally controlled interest rates are basically price controls. The govt controls the price of money. Even a 5 year old knows price controls don't work, but we can't expect that from the govt.

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Even a 5 year old knows that there's a significant difference between price controls in a supply-constrained market and price controls in a supply-unconstrained market, and that it's intellectually inappropriate to gloss over that difference, and pretend that bank loans that print money up out of thin air are the same thing as, say, automobiles and frozen orange juice.

I’m well over 5 years old and this doesn’t make much sense.

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