With monetary policy, yes. Fiscal policy was supposed to be the other component which is what Bernake kept saying when he was chairman when talking to Congress

With monetary policy, yes. Fiscal policy was supposed to be the other component which is what Bernake kept saying when he was chairman when talking to Congress...the Fed really only has one knob it can turn in a very, very extensive machine. Federal debt via stimulus is far lower risk than the Fed attempting to control recession severity.