My "parachute" currently is actually an allocation to long dated naked SPX calls that are way out of the money.   Fed is in a box and will start printing again sooner or later, not sure which, but it will happen. Typically they don't step in until they can say with a straight face "we had no choice" which is usually when the market is falling precipitously and is blowing through support levels.  

Totally, the only likely reason it will happen is because of a drastic shift in the economic outlook...which always happens eventually, but it doesn't look imminent given the fiscal moronomy at play. Notice he's tap dancing around the fiscal issue, but he did hint at it as the source of the problem at least twice already by my count.