The next group of politicians will have "learned" from this - in the sense that people will have voted them in based on whatever random views they had that matched with how the will of the people has changed.
I doubt existing politicians ever learn anything. Especially when our politicians pride themselves on "not flipping" on views. How are you supposed to learn anything if you never change your mind?
We don't elect people who learn. We elect people who we think are always right (charlatans).
I skeptical the people we elect in next will have any better ideas, because I don't think "we" learned anything from this either.
None of this excuses the lack of oversight, but the initial overreaction may have been rational.
Inflation related stimulus is of course farcical.
If there’s a 50% chance of total economic meltdown, and you can avert it with a few years of high inflation, that might still be the correct decision, even if the doomsday scenario doesn’t come true.