As the foreclosure crisis has intensified, Federal Reserve staff in our research, community development, and supervision and regulation divisions have actively collaborated to support foreclosure prevention at the local level and promote neighborhood stabilization initiatives.
When the Fed makes another cut of interest rates, will there be more pressure on the US-dollar and because of this more problems for the European export industry? Trichet: There have been, at times, sharp fluctuations in the exchange rates of major currencies. We are concerned about their possible implications for economic and financial stability.