Eli5: why are interest rates now considered worse than higher interest rates of decades ago?

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The original was posted on /r/explainlikeimfive by /u/ExcellentArea6152 on 2023-07-22 01:43:30.

I am surrounded by boomers saying this that in their day interest rates were at 15% and we have it easy! I’m also surrounded by the younger generations saying this is ‘not the same thing’

Explain to me the reasoning…