So we're now past 8.5% as the "official" rate, which we know is heavily doctored. The real rate using the original metric is easily in excess of 20% now. This is what happens when you put clowns in charge. This is now the highest gap since the 1940's, when the world's economies were recovering from WWII. The fed can't raise rates because then they wouldn't be able to afford their own debt they have racked up. The system is completely pooched.
Expect more pain ahead.