This sort of thing cannot occur in the US b/c we are the world's sole provider of dollars -- the US is itself a 'dollar desert', There is no other currency in circulation to arbitrage against. Any loan the Fed might make under this circumstance would be a form of quantitative easing (QE).
Trump wants lower rates but the only way to get the Fed's help is via more QE. From here this looks like exercise in futility. Lower rates would effectively depreciate USD, imports + tariffs would become even more pricey => inventories would balloon => more defaults and credit failures.