In a world with low interest rates, traditional monetary policies may not work well. When interest rates are low, the economy can be unstable and inflation may not reach desired levels. Adjusting policies to be more accommodating can help stabilize the economy and keep inflation on track. Committing to keeping policies in place until inflation or economic activity surpasses goals can also be effective. If interest rates are low, sticking to traditional policies could have negative effects, possibly justifying a higher inflation target.