This has a lot riding on a fallacy.

Interest rates in fiat currency, these days, are not due to scarcity of lendable funds. Saving rates by consumers actually are just a low-risk or high-risk form of rent seek8ng., depending on the economy.

There's no world these days where a vast amount of collected wealth by a few makes credit suddenly cheap for all consumers.

All wage earners will still be able to drive up inflation if they demand goods that are not able to keep up easily... therefore pressure to save (to not take out debt) will raise interest rates fine by itself.

Unless we are talking about fiscal-based government spending (and interest on fiscal debt), no increased access to credit will become "better for all". Businesses can absorb all the credit offered during good times and consumers may see none.

Business failures will suddenly dump some assets on the market at fire sale prices, but a lost job makes those fire sales of little solace.