In general, the study concludes that, even if the average level of the federal funds rate in the future is only 3 percent, these new tools should be sufficient unless the recession were to be unusually severe and persistent. Figure 2 in your handout illustrates this point.
It shows simulated paths for interest rates, the unemployment rate, and inflation under three different monetary policy responses – the aggressive rule in the absence of the zero lower bound constraint, the constrained aggressive rule, and the constrained aggressive rule combined with $ trillion in asset purchases and guidance that the federal funds rate will depart from the rule by staying lower for longer.