What would itulip do?

[DemonD]

Dear itulip (and when i say itulip, I mean EJ):

Driving in Los Angeles today, with completely gridlocked streets business as usual, no real economic slowdown apparent around here, I had a thought. If EJ was the Chairman of the Federal Reserve, what actions would he take right now? And then what plan of action would he have, say, for the next 5-10 years?

I definitely appreciate all the advice he (and the rest of itulip) has disseminated, and I know this isn't directly related to current investing advice, but I was just wondering, being pretty much certified as an expert on the macroeconomics of the modern American business/bubble cycle, what he would do.

Thanks,
DemonD