Yeah, I didn't like the old mortgage rates (when they were 12-18%) but I did like the savings rates (when they were above 5%). They aren't two sides of the same coin, any more than "inflation" can be described as good or bad using limited metrics. IMO all economics are relative and contextual. And I'm pretty sure that academic economists haven't kept pace with political economists, and neither have measured consumer economics very well. There's a pretty big divide between theories, measurements, and actualization.
Even though our GDP is above 2% (consistently higher than most developed nations), our national unemployment rate is under 5% (considered "full employment"), job creation has grown every month for several quarters/years, our federal debt/deficit has been shrinking, our dollar is strong, and "the markets" are at all time highs......there's still the gnawing problem of income inequality, where the majority of growth only benefits the top 10%, and doesn't
trickle down to everyone else.
But don't forget that our housing industry hasn't fully recovered from the CDO/MBS/Credit Default Swap debacle, or that health insurance is still unaffordable for most people without gov't subsidies (aka Obamacare), or that fuel prices are still manipulated by OPEC, or that commodity prices (food) are inflating, or blah blah blah.
Yeah, I can see how "monetizing debt" has had negative impacts on millions of people. It's part of the globalization and AI/automation era that's left millions of people behind.....and ultimately led to a President Trump "frontier". Yay?