Although they professed to support "states' rights," many proslavery activists wanted a stronger federal government that could force slavery on the western territories and deny local sovereignty to territorial residents.
Rational choice theory claims that people in the political realm act in their own self-interest. However, in today's political climate, many people act against their own interests to avoid being attacked by others.
The problem here not that the central bank is "setting" the "wrong" interest rate. The problem is the Fed has long been relentlessly forcing down interest rates to satisfy various politically determined "needs."