The trick here is that high interest rates may be the smallest possible evil: we had a two year pandemic and all kinds of stacked global economic catastrophes (

The trick here is that high interest rates may be the smallest possible evil: we had a two year pandemic and all kinds of stacked global economic catastrophes (with the War of Russian Aggression still ongoing), from which you would expect major economic problems to arise. The measures taken to stage off the worst possible effects are now manifesting high interest rates. The cure can hurt, too. There's definitely a big element of missed opportunity, though. Non-billionaires got a giant infusion of cash through higher wages and such, for the first time in decades... So, too much money chasing too few goods in the short term, giving inflation. But in the longer run, it would be far better to rework the economy to actually meet the demands of non billionaires (housing, education, medical care, oh my) than to complain about how the proles have money all the sudden and plot new ways to take it away from them.