That's the good news.
Other than that, these guys have laid out all kinds of plans over the past few months that have gotten practically no traction, or the slide is so severe that the fed has slowed it to slightly less than severe.
So, all ears will be on Geithner and Bernacke this week to listen to what the next trick is in the proverbial economic fix tool kit.
I think we are in for a long week. At least there is an emotional tone of concern in the media.
Reuters: Bernanke to reassure help is coming for economy
Even so, the Fed remains busy behind the scenes and is counting on two massive programs to help spur consumer lending and stir some revival in the depressed housing market.
In one of these, the central bank has begun buying up to $600 billion worth of debt and mortgage securities backed by government-related mortgage finance providers, a program that has helped drive down mortgage costs.
In the other, the Fed is poised to throw a life-line to consumers with an initiative aimed at making it easier to get loans for homes, cars and on credit cards that could be up and running within a couple weeks.
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