By all means, the two-pillar strategy is in my conviction clearly superior - particularly at the present juncture of considerable model uncertainty - to any mechanical rule-based approaches. The latter are usually tailored to specific views of how the economy operates and are therefore less likely to perform well in periods where these views might have to be adapted.
Monetary policy rules usually derive their policy recommendations from a very narrow set of economic indicators only. In many cases they rest heavily on the output gap and the equilibrium real interest rate, which, as I have pointed out, are potentially very unreliable concepts at the present juncture.