Answering an audience question after his speech, Rosengrensaid the ballooning Federal Reserve balance sheet need notnecessarily lead to inflation down the road and that concernsabout deflation and an extended period of economic weaknesswere greater. "By supporting short-term credit markets, the FederalReserve is signaling its determination to take appropriateactions to prevent seize-ups in financial markets, reducing therisk premium," Rosengren said in his speech. "We have seen improvements of late in the functioning ofmany short-term credit markets and I expect this improvementwill continue."Rosengren, who won't assume a voting seat on the Fed'spolicy-setting committee until 2010, said that with appropriatesteps, the housing market could stabilize this year. "The recent reductions in mortgage rates, in part due tomonetary policy actions, have enabled more borrowers than wouldotherwise have done so to purchase or refinance homes,"Rosengren said. 
"Expansion of this effort and encouraging greater GSEparticipation, should encourage borrowers that have equity andreasonable credit scores to purchase or refinance homes," headded.Rosengren said the government-sponsored enterprises (GSEs)Fannie Mae (FNM.P) and Freddie Mac (FRE.P) "could play a moresignificant role in restoring liquidity and providing asecondary market for mortgages that reflect the lower cost offunds in many credit markets." For more troubled borrowers, Rosengren said Federal HousingAdministration (FHA) lending programs could be appropriate. Rosengren also said that once the market has stabilized,mortgage securitization should be structured in such a way toreduce the likelihood of future upheaval in mortgage finance. "And more generally, financial regulatory reform will alsobe a key policy topic this year," he said. (Reporting by Kristina Cooke; editing by Gary Crosse) Bonds Global Markets. Will Brett Favre fade in 2009 He certainly hasn’t shown any indications as he may be playing the best football of his career (which says a lot). Let’s take a look at where he falls in the rankings, as well as all the other QBs, for Week 13:Peyton Manning - Indianapolis Colts - vs.TennesseeMatt Schaub - Houston Texans - at JacksonvilleTom Brady - New England Patriots - at MiamiBrett Favre - Minnesota Vikings - at ArizonaPhilip Rivers - San Diego Chargers - atClevelandAaron Rodgers - Green Bay Packers - vs.BaltimoreDonovan McNabb - Philadelphia Eagles - atAtlantaTony Romo - Dallas Cowboys - at New YorkGiantsCarson Palmer - Cincinnati Bengals - vs.DetroitKurt Warner - Arizona Cardinals - vs.MinnesotaJay Cutler - Chicago Bears - vs St.

DallasMatthew Stafford - Detroit Lions - atCincinnatiAlex Smith - San Francisco 49ers - at SeattleRyan Fitzpatrick - Buffalo Bills - vs NewYork JetsBrady Quinn - Cleveland Browns - vs San DiegoMatt Cassel - Kansas City Chiefs - vs. DenverThoughts:Peyton Manning versus a team who has allowed over 25 passing TDs on the season Could there possibly be a better scenario Tough matchup or not, how can you not like Aaron Rodgers this week He’s already surpassed 3,000 yards passing, while throwing for 22 TDs. His three rushing TDs don’t hurt either. With as bad as the Giants passing defense hasbeen recently, how big of a game could Tony Romo have this week Facing the Redskins passing defense certainly knocks Drew Brees down, a lot, as no quarterback had thrown for over 200 yards since Matthew Stafford in Week Three before Donovan McNabb this past Sunday. That includes facing Donovan McNabb (in their first matchup), Tony Romo, Matt Ryan, and Kyle Orton. He’s still usable, but you have to downgrade him a bit. Will Ben Roethlisberger or Kurt Warner be healthy enough to play That’s the biggest question surrounding them after missing Week 12. Monitor the news. For the first time in team history, the Cincinnati Bengals have posted an undefeated record against division opponents. With sweeps over the Steelers and Ravens already in the books, the Bengals literally ran over the Cleveland Browns today on their way to a 16-7 victory at Paul Brown Stadium.The Bengals offense was all about running the football Larry Johnson rushed for 107 yards on 22 carries Bernard Scott racked up 87 yards on 15 attempts. Carson Palmer seemed out of sync with his corps of receivers.
Palmer was under pressure for much of the day and was only able to account for 96 yards in the air.The Bengals defense was excellent, allowing a season-low 169 yards Yes, the Browns offense is horrible. I was interested to see if Brady Quinn was really that bad or if he just had no time to throw Both are true.I have to comment on Shaun Rogers. I don't like to see anyone get hurt, but the irony is palpable. Near the end of the first half, Rogers horse-collared Palmer and was flagged for 15 yards.The game wasn't pretty, but a win is a win.