Comment by thomashobohm

Yes, giving money to people/governments directly is a good idea, but it's not something the Fed can actually do. The government has to step in for that sort of policy. This isn't "creating money as private debt"-it's purchasing debt. Eventually, these bonds will pay out, and that will take most of the money just injected into the money supply back out of it. The only new loans it's issuing are to states and municipalities.