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Suppose that Congress cannot overcome its division over COVID19 politics and does not manage to pass any further fiscal stimulus to address the impacts of

Suppose that Congress cannot overcome its division over COVID19 politics and does not manage to pass any further fiscal stimulus to address the impacts of the pandemic on the economy. Also suppose that Fed economists warn that a potentially imminent collapse of the US airline industry will result in lasting harm not only to shareholders but also significantly reduced economic growth for as long as a decade. What could the Fed do to address this problem, assuming they wish to act in the context of its dual mandate? What cooperation would the Fed require from the Congress and/or the Administration? If you were the Fed chair, what would you push the Fed to do about this situation, if anything?

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