Being a high level economist is a risky job, and it is an art rather than a science, because there are too many variables to accurately predict how the actions today will affect the economy going forward. The Federal Reserve Bank's manipulation of the interest rates has to be done with insight into domestic and global economics, including the state of the labor market, the global supply chain, the stability of global politics, and more. And that the Fed's actions in the 70's were an example they took heed of when making decisions of how to act during the Covid 19 Pandemic. I feel like the government is doing what it must now to address the issue. No more or less action should be taken, it just takes time for these ripples to affect everything