WHO NEEDS CONGRESS
Obama can directly ask the Federal Reserve to invoke the Lender of Last Resort emergency powers without Congress.
JOBS BANK
The Federal Reserve can issue low interest loans to businesses that hire unemployed people and keep them on their payroll for at least one year.
INFRASTRUCTURE BANK
The Federal Reserve can issue low interest loans to cities and states that use the money to replace infrastructure. This would also create jobs.
HOUSING BANK
The Federal Reserve can issue low interest loans to people or organizations that buy foreclosed houses for investments possibly via a short sale.
The Federal Reserve has billions of dollars of deposits. All of these loans would stimulate the economy without Congress.