That's the Chartalist (and MMT view, I think). Friedman did make a strong case for the central bank's role like you describe to end recessions, but he was also

That's the Chartalist (and MMT view, I think). Friedman did make a strong case for the central bank's role like you describe to end recessions, but he was also sensitive to the fact that money was not identical to productive capacity, ie that which would produce capital gains. The concern as I understand it is that unless you did something radical like literally gave the cash to people directly, there is still the liquidity trap with the central bank's levers.