http://finance.yahoo.com/taxes/article/108885/low-inflation-doctrine-gets-a-rethink-but-shift-is-unlikely?sec=topStories&pos=6&asset=&ccode=

They are saying it would have been better if interest rates were higher to begin with so that if the FED cut rates, it would have had bigger effect, now that FED is stuck at 0% and cannot go -1%.

The truth is the FED should not have messed with rates at all. Let the free markets set them. At boom times rates will go higher, and at recessions, they will go lower as the demand for money dissapears.