Likely so, according to comments made Friday night to the National Association of Home Builders in Orlando, Florida.  Although the head of the Federal Reserve is unlikely to outright state future policy direction, his latest round of comments are likely to boost speculation that the central bank of the world’s largest economy may very well opt for another round of quantitative easing – or QE3 – sooner than later this year.

Speaking about the broader economy, Bernanke reiterated sentiment that has been expressed over and over again in the last couple of quarters by the nation’s central bank.  The US economy continues to remain depressed as consumer spending and sentiment remain soft.

But, this time around, Chairman Bernanke highlighted the fact that weak consumer spending in recent quarters has been widely attribute to the dwindling wealth that most US homeowners are faced with.  With people in homes that are currently “underwater”, households are likely to reduce overall consumption to the tune of “$200 and $375 billion per year”.  Current homeownership becomes even worse when accounting for negative equity that complicates financing options and limits opportunities for current homeowners.

The Federal policymaker additionally noted that regulators have continued to work with banks and financial institutions in taking a “balanced approach” when it came to gauging the creditworthiness of potential borrowers – reiterating that the Federal Reserve “will be paying close attention to what is happening”.

Although it’s not a ringing endorsement, the fact that the Bernanke continues to site the lack of improvement in the housing sector shows how committed policymakers are to supporting a recovery in the economy – and with whatever means possible.  Similar sentiment surrounded the central bank’s decision back in the summer of 2011 to implement QE2.5 – noting that the measure was announced to “support conditions in the mortgage market.”

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