The economy repaired itself into the Reagan administration - since interest rates were raised to compensate for printing money.
No- in the 1980s, we started creating money by debt rather than by printing. 90% of the money in the world is created this way. But it is less stable than the other way. The negative effects can take decades to materialize, whereas if printing is excessive, the negative effects show up right away. In the past few years, we largely paused creating money by debt, and we printed a small amount to cushion the blow initially. But this is limited.
By the way, some $7 trillion of what the US has printed has been soaked up in the form of reserves. The US is in a unique position here, and the dollar cannot be compared to a normal currency. The Fed is in a way Central Banker to the world, Central Bank of the Central Banks. Just look at the way the rest of them run to the Fed for swaps.
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