At this point the only thing the Fed might be able to affect is whether we get hyper inflation or stagflation and whether things collapse quickly or slowly.  I definitely think they kicked the can down the road too long and it can't be fixed without some really hard times.  There are some things that could be done , so we could fairly quickly (a few years) come out of the collapse and get better, but all of those are hard and will cause an immediate collapse, so no one will have the courage to do them.  I expect hard times to come and stick around.  Most likely things will go from bad to worse and not improve until Jesus's millennial reign.