I'm not sure if you're being glib or not, but if something "happens to" the Fed, we have much bigger problems than anything as boring as investing risks. It probably means WW3 or California is seceding or something.

I think atm the Fed is the main force holing the USA together, considering all the bi-partisan polarization

all ways to divert the "voltage" across elite and commoner classes which are the real source of this tension.

I'm saying that wealth inequality creates something quite comparable to 'voltage', this creates a tension which WILL get released (because physics). But due to active (social-)technological management this tension is getting re-focused into blue Vs red bi-partisan politics, as well as other expressions of winners fighting losers (including gender 'equality' tensions, trans and transphobics, etc..)

Well we still have 60 and 90 year mortgages as tricks to use. Plus paying for mortgages on places that don’t yet (never will) exist. So government can probably increase house prices several times over before whole thing collapses.

See China for how that’s working out. (Not well)

If something happens to it it'd be alongside some sort of low-probability event that will leave you with more pressing things to worry about than the value of your investments

If the fed goes under then you have far bigger concerns

"Risk-free" is a common term you'll hear in finances that basically means, no risk aside from a governmental collapse. That's still a risk but falls outside their scope.