As I understand the cost of central banks borrowing from the central reserve but should causes a trickle effect through various lending markets which are already speculative. I work for an independent finance company that leases commercial equipment, we aren't a bank meaning we borrow most of our funds (unless we fund with our own cash which we will sometimes). When fed rates are even projected to increase we will see our cost of borrowing increase because lenders will increase rates based on what they think rates will do in the near term. If rate increases don't happen sometimes that cost falls back down but as of late that cost of funds has been increasing at a rate I've not seen in the 7 years I've been in the space.

So long and short while fed rates are not what our cost of funds are hinged on it greatly affects lending markets across the board.

I don't necessarily look at it as a bad thing usually because interest rates have been artificially low for a long time but when you pair skyrocketing inflation with runway interest rates this doesn't end well for consumers. That said I think most here understand what needs to happen to buck the Fed and are prepared for a little pain.