when consumers are in a low interest rate environment created through a dovish monetary policy they become more likely to take out mortgages car loans and credit cards this spurs spending by encouraging people and companies to purchase in the present while rates are low rather than deferring the purchase for the future when rates might be higher 
this flurry of spending affects the entire economy increased consumption can help create or support jobs which is often one of the main concerns of the political system from both a taxation and a happy voter perspective eventually however the aggregate demand leads to increases in price levels some of this increase is because employment levels will rise when this happens workers tend to earn relatively higher wages as the supply of available workers goes down in a hot economy so the higher wages get baked into product pricing adding to this are macroeconomic factors created by an expanding money and credit supply where the value of the dollar is going down because they are plentiful this makes the input costs for products dependent on supply chains in another currency more expensive in dollars add this all up and you end up with inflation left unchecked inflation can be as destructive as high unemployment in a stagnant economy 