Now taking questions, Bernanke says the housing problem is complex with no silver bullet, but he...

|By:, SA News Editor

Now taking questions, Bernanke says the housing problem is complex with no silver bullet, but he likes the virtuous circle of rising home prices, more employment, and low rates. He's encouraged by signs mortgage originators are expanding capacity (see here). While not ruling out a cut in the rate paid on excess reserves, he says it's wrong to think of this as a major unused policy tool.