[Fed Chair Jerome] Powell is no idiot and he knows what a complete mess things are ...

so if I /reader “Sagelike”/ am Powell I'd have to ask myself how I need to play this? 

I wouldn't want to be the guy who presides over an economic implosion so I'd just keep the game going to avoid being tarred with that label for all time and, I'd retire in January with reputation more or less intact and leave the mess to someone else…

Debt monetization is the last and only option left on the table at this point. Interest rates can't go low enough to spur growth as they are near zero anyways nor can they rise high enough to rebalance the system without leading to debt default and depression. 

QE forever doesn't work so what's left?

John Mauldin 30 July 2021

https://www.mauldineconomics.com/frontlinethoughts/policy-errors-have-consequences