For more than a decade after the Great Financial Crisis, central banks worldwide kept interest rates low in an effort to revive the economy.
It was an era of cheap money that fueled risky investments in unprofitable tech stocks, dodgy cryptocurrencies, and backdoor IPOs known as SPACs. And when COVID hit and central banks doubled down on their loose monetary policies to prevent a global recession, it helped exacerbate a whole new problem: inflation.
