With GDP declining and inflation increasing, what can be done to save the economy?

Question

Lowering interest rates (or leaving them unchanged) will create more inflation. Raising Interest rates will further slow economic growth. What can be done in this dismal market?

Answer 1

Industrial and Technical Economics offer a extensive matrix of phenomena to analyze this scenario.  Recession and correction phenomena will dictate the potential outcomes.

Similar events have resulted in government intervention to facilitate growth beyond the event.

Example:  Great Depression and the New Deal.