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There's a simple explanation for low inflation--low velocity (the number of times money is exchanged or spent). When velocity falls, it affects the economy the same way as a shrinkage of the money supply. 
When velocity is low, it is very hard to get consumers to raise spending or businesses to raise investment. That is why the government must spend, preferably on things like public works that will improve well-being for a long time.
We are to this day still paying the price for a 2009 stimulus bill that was too small and misallocated--too much on tax cuts, too little on public works and aid to state & local governments.
