I don't the current economy is "entirely" the result of bad policy, but I do think it is the primary contributor. I read/listen to a lot of economic commentators as an interest of mine, and there is pretty broad agreement that tariffs are the main cause of inflation failing to tick down to target this year. There also seems to be consensus that the manufacturing sector has been harmed by tariffs and immigration policy rather than helped.

In my opinion, the AI hype cycle has temporarily buoyed the economy from more serious pain. If significant economic gains aren't realized from it soon I think we'll begin to see that pull back.

I do, however, think a return to ZIRP by the Fed would result in a significant economic boost. Psychologically, everyone remembers how advantageous low interest rates are and I think it could result in real investor/borrower optimism, temporarily, if we go back to that. Unfortunately, that would likely mainly stimulate the demand side of the economy, and not as much supply. I don't have high hopes for how that would affect inflation.

That is a bad thing. It doesn't mean there aren't other contributors to our economic challenges.