If businesses go insolvent, what happens to _all_ of their employees? The Federal Reserve's job is to a) minimize unemployment and b) target inflation. From what I can tell, they are doing everything in their power to accomplish those goals.
I agree that more needs to be done directly for folks who have already lost their jobs or will soon, but that type of stimulus would require an act of Congress, who apparently can't get their collective heads out of their own asses at the moment.
> that type of stimulus would require an act of Congress, who apparently can't get their collective heads out of their own asses at the moment.
Yes that is the problem. I believe that the Fed's powers should be expanded to allow giving that money directly to the people, instead of only to banks and financial markets.
If we really cared about minimizing unemployment beyond simply paying lip service to it, we'd institute a job guarantee.
