The most important thing to remember is that inflation is not an act of God, that inflation is not a catastrophe of the elements or a disease that comes like the plague. Inflation is a policy. Continued inflation inevitably leads to catastrophe.
Ludwig Von Mises (2006). “Economic Policy: Thoughts for Today and Tomorrow”, p.72, Ludwig von Mises Institute
Public opinion always wants easy money, that is, low interest rates.
Ludwig von Mises
Inflation made it possible to divert the fury of the people to 'speculators' and 'profiteers'. Thus it proved itself an excellent psychological resource of the destructive and annihilist war policy.” Ludwig von Mises, The Theory of Money and Credit
Production is quite possible without money. There is no need for money either in the isolated household or in the socialized community. Nowhere can we discover a good of the first order of which we could say that the use of money was a necessary condition of its production.” Ludwig von Mises, The Theory of Money and Credit
Conclusion:
We have to understand inflation and interest rate as two interacting mechanisms of the working body economic, with different political outcomes.
As JvNeumann observed and formulated, the motion of the monetary interest rate and real economic growth work in sync.
Inflation is a policy, which inevitably leads to societal conflict and warfare, but it can be fenced in. Inflation makes it easier on debtors, who repay their loans with money that is less valuable than the money they borrowed. This encourages borrowing and lending, which again increases spending on all levels. The reality of inflation is its association with the diversion of real wealth from one individual to another by means of an expansion in the money supply. Any increase in the money supply not supported by an increase in the production of goods and services leads to an increase in prices, but the prices of all goods do not increase simultaneously.
Economists distinguish between two types of inflation: Demand-Pull Inflation and Cost-Push Inflation. Both types of inflation cause an increase in the overall price level within an economy:
Interest rates tend to move in the same direction as inflation but with lags, because interest rates are the primary tool used by central banks to manage inflation. Higher interest rates are generally a policy response to rising inflation.
I acknowledge your pursuit of an economic resolution and remedy. Drawing upon my perspective and my role as an Iranian student in macroeconomics, I am inclined to assert that the strategic removal of certain leadership figures and their corresponding regimes could conceivably engender a solution surpassing the threshold of half-measures. Such an intervention, I propose, possesses the capacity to redress a substantial spectrum of challenges prevalent within the Middle East and beyond, potentially reverberating its transformative influence across global domains.
Yes indeed, inflation and high interest rates can be totally eliminated. But at what cost? It might be at the cost of recession and even depression. Deflation is not to be preferred. The breakdown of credit markets is not to be preferred to high interest rates. So we may need to learn to live in an in-between world where we accept a little inflation along with interest rates that accommodate a little inflation.