As much as the pandemic has left its mark on the world economy, for me at the moment it is much more important that there is a raging war in the middle of Europe, and regardless of what some will say that it is between Ukraine and Russia, we all know that the stakes in this war are much higher. Although inflation has hit the whole world, Europe has undoubtedly lost cheap gas and oil from Russia, which means that it will suffer the most until it adapts.
So regardless of whether "they" have learned something from past economic crises, this is about something that is much more complicated to solve, and as time goes on it will be even more difficult. In any case, I can agree that difficult years await us, but we must adapt or it will be even more difficult.
Yeah, it's both combined, and a few other factors on the side. The war has impacted the lives of millions that aren't even directly involved in the war. In the UK food prices have gone up as a direct reaction to the war, as well as energy prices. The governments around the world are doing what I'd call damage control. They know that a massive recession is coming, but they're trying to control at what speed that'll occur. Recessions typically last a long time, multiple years, and sometimes decades. There's an argument that we're still recovering from past recessions, and therefore there's a compounding effect each time.
This one looked particularly grim after the pandemic, but as well as the war. So, by increasing interest rates, and what not steadily instead of all at one time; reduces the immediate impact. However, it probably does prolong the recession though.