Governments were very keen on monetary policy from about 1980 onwards, but in the last decade in very many countries in the world interest rates that governments can influence have been very low, and that means the policy is now largely ineffective in many jurisdictions.
No, speed and acceleration.
It means that further lowering of interest rates isn’t going to be all that effective at doing something. But if you think that monetary policy is currently ineffective just think of the alternative. What would a reversion to 5% real interest rates do to the economy? Hmm? Ah, so monetary policy is currently effective then, isn’t it?