Fed Chairman Ben Bernanke's appearance before the House Financial Services Committee yesterday lacked any unexpected revelations. One point in his prepared remarks did catch my attention, however.

Not to beat a dead horse, but it is worth revisiting the Making Home Affordable initiative because the foreclosure problem just isn't going to go away. I want to point out two things: one that is missing and another that isn't working anywhere close to expectations.

Will the Fed continue to target long-term interest rates at this week's upcoming meeting?