Ok, so the US will never default on it's debts, as it can print whatever is required. Markets and politicians know this, which fully explains what otherwise seems to be highly illogical behaviour.

So a quarter point here or there on interest rates is presented as the big issue, when it's pretty much irrelevant long term. Western economies are now addicted to the debt cycle anyway so changes to interest rates affect nothing.

It's in no-one's interest to stop this. The economy would collapse, as others have pointed out.

But higher inflation is the cost of more money chasing the same amount of goods/services. The Cantillion effect keeps the already uber rich one step ahead of the chaos anyway... It's ordinary people who suffer. (btw higher productivity would break the cycle which is why the pundits are obsessed with so called AI).

But everyone involved has to be seen to play the game. Playing the game provides ample rewards to politicians and functionaries that say/do the "right things".

Are you not entertained, as they say ..

(Or it might just be I'm an anti-establishment cynic and really they do all know what they're doing...)