In 2009, in the wake if the global financial crisis when interest rates were at their lowest, the US government instituted a "cash for clunkers"...

 In 2009, in the wake if the global financial crisis when interest rates were at their lowest, the US government instituted a “cash for clunkers” program and later a “cash for appliances” programs. Both rebate programs were designed in part to stimulate new spending on automobiles and major appliances. What does this say about views of the health of the interest rate channel during that time?