The FOMC meeting today kept rates at near 0%, though decreased the infamously vague "agency debt" from $200B to $175B.
Changes in monetary policy remain few and far between of late, but those which have been instituted, and are underway as we speak, continue to keep the economy afloat, in terms of maintaining overpriced assets through easy credit from the government. One wonders how successful the "recovery" would have been without this in place.
The U.S. dollar suffers when the government floats treasuries to bail out the financial sector. This blog maintains it cannot last forever, and when it ends, the government will have to choose between dollar devaluation or a deflationary recession (where the buying power of the dollar goes up), and they will choose the recession.