The problem he has is how much effective control does The Fed. have over interest rates? The 10 year yield on US Treasuries is spiking up. Somehow the rate was forced down by 100 basis points before Christmas but is now climbing.
The Fed. could come into the market as a buyer but that would further devalue the dollar - I suspect that this is what will happen as Powell is running out of options.
Throwing money around like a drunken sailor is the only game in town at the moment.