Interest rates do not control the economy. This makes the monetary policy of central banks an extremely inefficient 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 economic development. The result was that interest rates do not control this.
Fiscal policy is a much more effective tool for controlling the economy. It means that the government increases the budget in a recession or when a real need such as affordable housing is not being met in order to get production or demand going again. Read more here.
A deficit-driven fiscal policy has no necessary connection with increased 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.