What rates are you referring to?
https://fred.stlouisfed.org/series/fedfunds
Last time fed funds rates were as high as they are now was Jun 2019. And then a few more times before that.
https://fred.stlouisfed.org/series/fedfunds
Last time fed funds rates were as high as they are now was Jun 2019. And then a few more times before that.
I combined them into a single chart here: https://ibb.co/h7c7DJS
(Is ImgBB a good site? I stopped using imgur after too many dark patterns)
Although the Fed can backstop commercial paper in emergencies (and they did so at the beginning of the pandemic), it's extremely unlikely that they start taking on enough to move rates in the medium term (like they did with mortgage backed securities). So this is not a rate that the government controls except very indirectly.