Atlanta Fed President Dennis Lockhart stated today that the Fed may take more action if the jobs picture does not improve. Lockhart backed the Fed's latest move to implement QE3 which focuses on buying mortgage-backed securities to keep mortgage rates very low. Lockhart is seen by many as being in the middle of the Fed wings of hawks and doves. While the Fed may take more action, key issues remain of what marginal impact monetary policy will have and whether changes in fiscal policy will actually happen. The Fed appears to actually be paying attention to the economy while elected officials are paying attention to elections.