Government Policy to Heighten Inequality

Krugman blogs that Bernanke knows what's up having seen this show before in Japan. He directs us to Tim Duy who writes:

Word on the street is that Fed staff are increasingly frustrated with the lack of action from leadership. Why exactly is Bernanke showing such deference to the more hawkish elements such as Kansas City Federal Reserve President Thomas Hoenig, Dallas Federal Reserve President Richard Fischer, and Philadelphia Fed President Charles Plosser? If you seek more easing, you are not alone. Board staff are increasingly your allies.

It seems they might do a small adjustment to stop the passive reduction of mortgage-backed securities on their balance sheet but nothing else unless things are reaching crisis level.* What is the tipping point or trigger in their eyes I wonder? Actual deflation?
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* The Fed was predicting 9.5% unemployment for this year and 8.7% for next near, in other words job growth will be glacial. (The IMF is predicting 9.5% for both years, and the White House's OMB is forecasting 9% for next year.) These European levels of unemployment minus Europe's social safety net is an assault on the working poor and middle class of America. The "threat of the sack" becomes much more potent and it's easier for managers to instill discipline. Obviously it becomes much more difficult for workers to fight for their fair share of the pie. It could get ugly unless growth really picks up. As far as I can tell they are waiting on the foreclosure mess and housing market to sort themselves out.