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Subject:  Re: Update: The Federal Reserve Responsibilities Date:  11/3/2007  2:42 PM
Author:  picpoule Number:  54087 of 54112

The Fed doesn't care about consumers. That's a bunch of hogwash. Consumers are going to be hit hard by the falling dollar the Fed is creating. It will cause the cost of things consumers need, like food and gasoline, to keep rising. The Fed can keep pumping money into the system but it won't make buying a house easier in the bubble markets like California. The problem in California is not a credit problem but an affordability (price) problem. Bernanke can do whatever he wants, but until prices come down in CA, real estate's not moving and inventories will continue to bloat.
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