The Federal Reserve Wants Action On Fixing The Housing Market

Federal Reserve Chairman Bernanke argues that the economy will not fully recover without doing something about the housing market. The market is still in downward spiral which is difficult to stop. He asks Congress to produce legislation that might stabilize the market. He would like Congress to its job but many in Congress believe that their job is to run election campaigns. He indicated that the Fed still had some weapons that it might use but he would rather not fight the battle alone. The issues are laden with value judgements which require politicians to take positions that are bound to be unpopular with many voters.