The president doesn't control interest rates (though they'd like to). The federal reserve bank independently decides interest rate changes to fulfill its dual mandate. Arguably, they should have started raising rates sooner, but the belief at the time was that inflation was transitory in nature. The executive branch could have tried to do more, but regulatory capture over the past decades has castrated the government's ability to effectively control business (instead, the inverse is true: business controls government policy). Blaming the corrupt cogs (or, even worse, the "other team") for a broken machine is useless. Instead, lose your mind screaming about all the things your local government should be doing, educate yourself and get involved in local politics, and start changing corrupt policies to rebuild from the bottom up. The other way is never going to happen, so all you'll accomplish there is making yourself hoarse.
