[Economist Robert Walters of Quicken Loans in Livonia, Mich., agreed.] The Fed is sticking to its guns, ... They took pains to address the tragedy of Hurricane Katrina, but they also made it clear that they see it as a short-term event from the economic perspective.

The Fed is sticking to its guns,

[Economist Alan Ruskin of I.D.E.A. was one of several Greenspan watchers who said the Fed chairman's remarks were warranted.] (His words) are extremely cautionary, ... They are quite clearly roiling the financial markets. I'm increasingly amused at the tenor of these remarks -- how clear-cut they are.

It's nice to know that the Fed is taking (exotic home loans) seriously,

These days, the Fed chairman has to be not only a great economist and a good politician, but also a spin doctor, ... Street Sweep .

Wow. We took great pains at every step of the way over the years to make sure something like this didn't happen. Obviously, in Frank's eyes, it wasn't enough. Well, I'm sorry.