So we worry about NGDP being up to potential output

And how do we get NGDP up to potential in the fastest possible time?

The Fed can certainly help, but the Fed will just point an economic path that is growing at potential NGDP, and that means liquidation of firms, households, and government budgets that cannot grow NGDP at potential.

The problem is political, wrapped in bad math.  Some advocate bad math so their particular favorite programs can continue to grow as sub par rates.  That is why we will have a change of party in Congress, one cannot execute the Sumner plan and still save sectors that grow subpar.

Bubba Clinton figured that out,  Congress has now figured that out.  If  Obama cannot figure that out, if he is surrounded by bad economic math, then he is a one termer.