Isn't it much more worrying the interest didn't reach it's precious high before they start reducing it again? I see a overall decline in peaks, doesn't that mean the economic boom was less strong than the previous one?
Yes, they have little firepower to fight recession. Many believe this will be the last recession and after it economists will forget about Keynes and revive Hayek.
https://www.youtube.com/watch?v=d0nERTFo-Sk Economy is not as strong as in early 2000 because recession of 2008 was never really cured.
As somebody said: when everyone talks about upcoming crisis - there will be no crisis, but when everyone forgets about it - crisis will come. I might be quoting it wrong, but I also believe that nowadays as literally everyone knows about economic problems, everyone is prepared and tries to mitigate it - there is little chance of significant recession occurring. Temporary minor decline - possible, but not recession. And surely the countdown is not for months, but rather for few years.
When you have no weapons to fight it does not matter much if you know the enemy is at the gates. Just look at the graph. Normal interest rates should be from 2-5% and crisis used to start when were above 5%. Now are at 2% and in Europe at zero.