The Prime Rate

The Prime Interest Rate is the interest rate charged by banks to their most creditworthy customers (usually the most prominent and stable business customers). The rate is almost always the same amongst major banks. Adjustments to the prime lending rate are made by banks at the same time; although, the prime rate does not adjust on any regular basis.

It is adjusted when the Federal Reserve, a private corporation, says so.

Crashes, depressions, recessions, etc. do not just happen. A private corporation decides.

The Fed creates liquidity, then demands payment on margin calls, and when the inevitable consequence of consuming on debt predictably occurs, the Fed charitably "bailsout" the American consumer from the disaster the Fed created.

And Americans call this a free market. Laughable.