Gentle signs of Japa-nic are beginning to show, don't you think? What with the Fed poking around and toying with things like buying up Treasuries (drives the yields down you know) and convincing the Euro folk that "cool kids lower rates." (New Zealand is very unpopular right now).
In another sign of its focus beyond conventional policy, Mr. Bernanke on Thursday called for aggressive new actions by the government to help homeowners avoid foreclosure. One approach, he said, could involve having the U.S. buy delinquent mortgages and refinance them.
He called for revisions to a federal program called Hope for Homeowners that might encourage more participation. It is designed to help borrowers refinance with the help of the Federal Housing Administration.
Fed Weighs Its Options as Europe Cuts Rates [The Wall Street Journal]