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That’s the point. The Fed essentially gained complete control over the value of the dollar once Nixon severed it from gold in the early 70s. Easy monetary policy has been the norm since the 1990s.

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You only need to go back as far as the 2000s to see interest rates of 6+ percent.

I'm not sure anyone would consider that "easy monetary policy."

Also, you do know that inflation and boom-and-bust cycles still happened while we were on the gold standard right?

Business cycles and asset inflation are different. Business cycles are natural to capital markets, asset inflation is caused by massive artificial injections of money (a la quantitative easing).

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