A very interesting article came out recently over at CQ Politics. Here are some highlights:
Federal Reserve Chairman Ben S. Bernanke said Wednesday that the central bank remains concerned about slowing economic growth, and he again called on lawmakers to clear housing legislation that could help struggling borrowers.
The collapse of the subprime mortgage market has helped drive a wider credit crunch, and the Fed has become increasingly concerned about the risks of a recession.
Since September, the Fed has cut its benchmark federal funds rate from 5.25 percent to 3 percent, and Bernanke suggested to the House Financial Services Committee that the central bank is open to further rate cuts.