I'd throw dollars out of helicopters if I had to, to stimulate the economy.
It's true that the Federal Reserve faces a lot of political pressure and is unpopular in many circles.
One might as well try to perform brain surgery with a sledgehammer.
The more guidance a central bank can provide the public about how policy is likely to evolve the greater the chance that market participants will make appropriate inferences.
The GSEs are adequately capitalized. They are in no danger of failing.
Under current law, on January 1, 2013, there's going to be a massive fiscal cliff of large spending cuts and tax increases.