It's pile-on the Fed time, for days now. No one - not even the Democratic hopefuls - ask why the Prime Rate hasn't been cut. (Uh, that's the rate that many mortgages are tied to, i.e. the reason that they are "re-setting" so high). Hank Paulson gives a whole talk and doesn't mention a cut.
Maybe this will jog someone's imagination:
"The Fed is prepared to take additional, significant action on the heels of observed changes in the private policy rates that directly affect the parts of the credit markets currently stressed by credit concerns and onerous loan terms."
That ought to do the trick.
