Interest rates do not control the economy. This makes the central banks' monetary policy an extremely ineffective and blunt tool. Jussi Ora has done the following excellent video interview with economics professor Richard Werner. Werner has examined the historical empirical evidence on whether interest rates control the development of the economy. The result was that interest rates do not control this.
Fiscal policy is a much more effective tool for managing the economy. This means that the state increases the budget in a recession or when some real need such as cheap housing is not satisfied in order to get production or demand going again. Read more here.
A deficit-driven fiscal policy has no necessary connection with height inflation.
This has been known for a long time, but was "banned" when milton friedman received the economics prize. The causes of much financial misery are therefore Assar Lindbäck and the price committee.
Just. Assar Lindbäck caused a lot of misery.