As an economist, I think in order to get the system back to normal, the APR needs to be flexible (based on the amount of deposits and loans). I understand that due to the constant decline in UST price, the system cannot support a high and stable APR value, however raising interest rates can stabilize and even rise the UST price, in addition, I believe that if the price of UST is stable (even when not repegged!) raising interest rates will help revive the system. here, I explained my idea: