Boston Federal Reserve president Eric Rosengren issues unusual plea for Fed, Bernanke to take more action on economy

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Among the actions he wants his colleagues to consider is for the Fed to again drive down interest rates by buying trillions of dollars in securities; in particular, Rosengren wants the Fed to focus on buying mortgage securities to push home loan rates even lower, which would make housing cheaper, boost the real estate market, and free up money for homeowners to spend elsewhere. Some Fed specialists said the remarks from Rosengren are unusually pointed in a world where even the simplest statements are carefully worded. Tim Duy, an economics professor at the University of Oregon who writes a column called Fedwatch on the website Economist's View, said he was struck, in particular, by Rosengren's publicly urging the central bank to ignore the political situation. 'That would be fine to say internally. But to say that externally, to pull back the curtain and say, 'They're doing this for...

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