During the COVID-19 crisis, when it appeared that monetary policy was "maxed out" and hobbled by a liquidity trap, Multiple Choice Congress approved a $787 billion act for tax cuts and increased government spending. trade policy in the form of a weakening dollar was successful. fiscal policy in the form of the Paycheck Protection Program and the CARES Act was implemented. the Fed started raising interest rates back to normal levels since there wasn't any lending taking place anyway