Watch what happens. The Fed's attempts to constrain credit will trigger a deflationary collapse (probably already the case) after which it will respond with higher, and accelerating, rates of monetary debasement. Short nominal rates having been pushed to zero the avoid hangovers stay drunk strategy is over. Decades of monetary and fiscal distortion must now be wrung from the system through either inflationary collapse (easy bet) or deflationary collapse. Happy endings never follow such distortions, and those extant are extreme by historic standards. Doubt it? Just study financial history.