bernanke

Mr. Bernanke also said he would support audits by the Government Accountability Office of how the lending programs were conducted.

'It used to be that the mystique of central banking was all about not letting anybody know what you were doing, ' said Mr. Bernanke.

Mr Bernanke sat behind a rather large mahogany desk, looking strikingly as though he were about to bang out a tune on an upright piano.

At this point Federal Reserve Chairman Ben Bernanke rubs his hands together expectantly.

Bernanke said the U. S. strategy "will continue to evolve and be refined as we adapt to new developments and the inevitable setbacks. "

Ben Bernanke, chairman of the Federal Reserve, said the public and investors should take "considerable comfort" .

For over a year, since August 2007, central bankers, principally Mr Bernanke, have been trying to make this toxic debt liquid.

Bernanke has said the Fed would like to see inflation closer to 2 percent to show the economy is making a solid recovery.

If Mr. Bernanke tries one, critics will say he is trying to create the illusion of a recovery when a real one isn't at hand.

"If the recovery seems to be faltering, we have to at least review our options, " Bernanke told lawmakers.

In theory, Ben Bernanke, Henry Paulson and Tim Geithner were as well prepared as anyone for this sort of event.

At a banking conference, Bernanke also said the Federal Reserve Board had not agreed on criteria that would prompt additional easing.

Mr Bernanke agreed to a profile by "60 Minutes" , a news programme, in which he strolled down the streets of his hometown.

Even Bernanke appears to be questioning just how much he can do on his own.

To that end, he said he thought Fed Chairman Ben Bernanke and Paulson were right to voice support for the dollar last week.

Bernanke's plan seems to be to devalue the dollar against gold with huge monetary expansion, causing nominal equity values to rise.

It all adds up to a clear case for more action. Yet Mr. Bernanke indicated that he has done all he's likely to do. Why?

Bernanke is trying to send a positive message that the recovery will last in the face of growing threats.

Ben Bernanke is to be reappointed for a second four-year term as chairman of the Federal Reserve, according to a White House official.

If deflation was as serious of a risk as Bernanke says, we would be seeing falling gold prices.

Ben Bernanke has sketched out a route to the exit, but does not intend to use it for a while.

Back in 2000, Mr. Bernanke also suggested that the Bank of Japan could move expectations by making announcements about its future policies.

Federal Reserve Chairman Ben Bernanke said the housing slump will continue to be a drag on U. S. growth into next year.

Fourteen of these "measured" rate rises were attributable to Greenspan and three to Bernanke, who replaced him in February 2006.

Bernanke also said he had not directed then-Treasury Secretary Henry Paulson to threaten to fire management.

As he himself acknowledged in his now well-known 2002 speech, the term was an original of economist Milton Friedman.

Bernanke said the Fed is "prepared to take further policy actions as needed" to keep the recovery on track.

On the federal budget deficit, Bernanke warned Congress that over the long term the federal budget appears to be on an unsustainable path.

Over the next couple of years, Mr. Bernanke said, the jobs market is expected to remain weak and inflation subdued.

In an April news conference, Mr. Bernanke said the tradeoffs that would come with additional purchases were becoming unappealing.

Mr Bernanke calls for greater exchange rate flexibility in the long run but acknowledges that it cannot be achieved overnight .

Back then, Mr. Bernanke suggested that the Bank of Japan could get Japan's economy moving with a variety of unconventional policies.

In the interview, Obama said he will leave it up to Bernanke to pronounce whether or not the recession was officially over.

Bernanke said the Federal Reserve should be extensively involved in the collective effort to promote financial stability.

After all, as Mr. Bernanke has repeatedly said, the Fed can only do so much.

Bernanke's four-year term expires in January and the president had not been expected to make an announcement until later this year.

January estimate, Mr Bernanke blamed rising energy costs which, he said, should stabilise or fall in the near future.

As the credit crisis deepened, Mr. Bernanke urged Fed officials to devise proposals that had never been tried before.

At the time, Mr. Bernanke was trying to be reassuring. But what he said then nonetheless foreshadowed the bust to come.

"I would urge you to broaden your focus just a bit, " Mr Bernanke told the senators.

Right now, Mr. Bernanke is in crisis-management mode, trying to deal with the mess his predecessor left behind.

Chairman Ben Bernanke spooked markets just a few weeks ago when he said the forecast for recovery remains "unusually uncertain. "

So why is the Bernanke Fed being just as passive now as the Bank of Japan was a decade ago?

Mr. Sheets said he believed the lesson Mr. Bernanke learned from Japan was that he shouldn't be timid in efforts to revive the economy.

In his address to the Washington conference, Bernanke said the economic growth is slowing as a result of credit crisis.

Federal Reserve Chairman Ben Bernanke said the economy is going through a very difficult period.

Bernanke said the financial crisis was an old-fashioned bank run with different actors.

Bernanke has no exit strategy that he can implement without sending the U. S. economy into the next Great Depression.

Even if he lacks the assiduous political touch of his predecessor , Mr Bernanke is not unaware of the political context .

Bernanke said he is concerned about the long-term implications of high unemployment for workers' skills and wages.

Bernanke also said the recovery will gain momentum only gradually and that economic slack will decline slowly.

For its part, Bernanke said, the Federal Reserve will continue to monitor economic conditions and carefully adjust its policies accordingly.

This might be the hardest test for Chairman Ben S. Bernanke and the Fed since the end of the financial crisis.

Bernanke did not indicate whether the committee would take additional measures to stabilize the economy.

Bernanke said the Fed had to launch the bond-buying program, given the outlook for weak growth and persistently high unemployment.

Fed Chairman Ben Bernanke said the economy had a high degree of slack, which should help to keep inflation contained.

Of course, Mr. Bernanke is not the only one to have this view on money and happiness.

Bernanke said the debt crisis in Europe, which has rattled Wall Street, played a role in the Fed's "somewhat weaker outlook. "

At the White House, Mr. Bush met with his economic advisers as well as the Federal Reserve chairman, Ben S. Bernanke, to discuss next steps.

The endorsement of that thesis by Fed Chairman Bernanke is one more sign that the Federal Reserve is in the wrong hands.

If Federal Reserve chairman Ben Bernanke had a tank, I wouldn't just be in it; I'd probably be the bouncer checking ID's at the door.

It is a real shame that absolutely nobody in the mainstream media has acknowledged this fact and called Bernanke out on it.

If it's not clear whether Mr Bernanke was signalling a pause, that may be because, quite sensibly, he hasn't yet made up his mind.

After a decade in Washington, Mr. Bernanke doesn't seem to have been swept up by the nation's capital.

Bernanke deserves to be impeached for his previous acts of perjury and for blatantly ignoring the price inflation that exists all around us.

Ben Bernanke, Fed chairman, has defended his actions and said he was fully aware of the global importance of the dollar.

Fed chairman Ben Bernanke recently gave a speech denying that it had loosened credit too much, though he admitted to lax bank regulation.

President Obama has nominated Ben Bernanke for a second term as chairmen of the Federal Reserve, the United States central bank.

Lawmakers continued to unload their frustration on Messrs. Bernanke and Paulson during hearings Wednesday.

Bernanke confirmed investors' fears that the best scenario for the economy is only slow growth and relatively high unemployment.

Borrowing a page from the market-friendly script of the Greenspan Fed, Bernanke & Co. offered up a market-friendly action of its own.

None of this comes as a surprise to the former Princeton University professor who now chairs the Federal Reserve, Ben Bernanke.

Last week, as well as increasing the size of some of these ongoing programmes, Mr Bernanke went back to the textbooks.

And Bernanke said he didn't view deflation as a "near term risk to the United States. "

But with the worst news on the economy yet to come, Mr Bernanke can only keep his fingers crossed that inflation does not become ingrained .

That did not stop the Republican leaders in Congress from taking the highly unusual step of calling on Mr Bernanke to end monetary easing.

When he spotted unusual bank transactions, Mr. Bernanke reported them to the bank.

Informed that they were mandated by contracts, Mr. Bernanke said he 'then asked that suit be filed to prevent the payments. '

NIA went on to say, "NIA fears that come this October, Bernanke is likely to shoot up his largest ever dose of quantitative easing. "

In preparing for this lecture, I began to realize just how obvious a choice Bernanke was for chairman of the Fed.

Federal Reserve Chairman Ben Bernanke said the latest increases in energy prices have added to inflation risks.

A friend of Mr. Bernanke likened him to a firefighter reluctantly suiting up to battle new troubles threatening the global financial system.

The year started with Ben Bernanke, Time magazine's Man of 2009, being confirmed to another term as chairman of the Federal Reserve.

Federal Reserve Chairman Ben Bernanke and other economists have proclaimed the end of the worst recession since the Great Depression.

Fed Chairman Ben Bernanke continued to fare best, with an average grade of 76 out of 100.

Mr. Bernanke said the Fed can't manage the economy and preserve financial stability without bank oversight.

Mr. Bernanke and his wife filed a police report when the purse was stolen and alerted Wachovia and the credit-card companies.

Mr Bernanke, who did not comment directly on the sales report, remained cautious about the shape of the recovery.

Bernanke told a congressional panel that the economy appeared to be growing, but warned it could shrink in the first half of 2008.

Since Ben Bernanke, the Federal Reserve chairman, hinted in late August that it was on its way, financial markets have responded vigorously.

Bernanke told a congressional panel that the economy appeared to be growing, but warned it could shrink in the first half of 2008.

Since Ben Bernanke, the Federal Reserve chairman, hinted in late August that it was on its way, financial markets have responded vigorously.

Mr. Bunning was the only committee member to vote against Ben Bernanke 's confirmation as Fed chairman almost four years ago.

GETTING rid of a bad name is difficult; but a consistent message can do it, as Ben Bernanke has proved.

Mr. Bernanke has said the steps helped to lower long-term interest rates, including rates on mortgages.

"Recession is possible, " Bernanke told the Joint Economic Committee.

This is not to say that deflation is itself unlikely, but rather that the consequences of deflation are not what Chairman Bernanke expects.

Fed Chairman Ben Bernanke has opened the door to a further easing of monetary policy, but officials have said they are hesitant to act.

It makes sense that Mr Bernanke is already trying to get the market ready for new medicine.

Mr. Bernanke has avoided publicly criticizing the White House's call for an independent consumer regulatory agency.

Mr. Bernanke has avoided publicly criticizing the White House's call for an independent consumer regulatory agency.

But in congressional testimony on Wednesday, central bank chairman Ben Bernanke played down the possibility of a government takeover.

His counsellors, Bernanke and Geithner, are at the head of a long train bearing all the treasures of the Americas.

Bernanke is a throwback to a more traditional Fed chairman : smart , dull and straightforward . He has had no crisis to deal with .

Mr Paulson said he did so at "the request" of Ben Bernanke, the Fed chairman.

When he actually spoke, however, Mr Bernanke mysteriously softened his line, talking of a "distortion" instead.

"Bernanke is closing the door to more rate cuts, " said Steve Goldman, market strategist at Weeden & Co in Greenwich, Connecticut.

Federal Reserve Chairman Ben Bernanke's average grade rose slightly to a 72, but 26% gave him the equivalent of a D or F.

Given all those trouble zones, investors will be listening for signs Bernanke has grown gloomier since the last Fed meeting.

Mr Bernanke's words did not much help stocks, which fell after briefly reaching an eight-month high.

Mr Bernanke's words did not much help stocks, which fell after briefly reaching an eight-month high.

It appears that Mr Paul's subcommittee on monetary policy will not be allowed to summon Mr Bernanke to testify.

Two Fed members dissented, preferring a smaller cut, while Bernanke and seven others prevailed with a more powerful three-quarter-point one.

In terms of the world economy, "Asia appears to be leading the global recovery, " Bernanke said.

The Fed may head off deflation. To put millions of Americans back to work, a lot more needs to be done. Mr. Bernanke can't do it alone.

Federal Reserve Chairman Ben Bernanke told Congress Monday it would be "appropriate" for lawmakers to consider "a fiscal package. "

Nonetheless, Mr Bernanke's academic research gave him an acute appreciation of the risks posed by dysfunctional financial markets.

Bernanke, with the key help of his colleagues, will have to prove himself equal to this task.

The result, said Mr. Bernanke, was a "global saving glut" : lots of money, all dressed up with nowhere to go.

But judged by the criterion Mr Bernanke had used for the Japanese economy in the late 1990s, something has gone badly wrong.

But judged by the criterion Mr Bernanke had used for the Japanese economy in the late 1990s, something has gone badly wrong.

When asked whether Ben Bernanke should be re-appointed as Federal Reserve Chairman, Buffett said 'I don't see how you could do better. '

Mr Bernanke points to structural models which show that only a modest part of the house-price boom can be pinned on monetary policy.

As we enter the fourth year of this economic crisis, we should not be surprised to see additional moves from Bernanke.

Bernanke stressed that any stimulus package must be implemented quickly and designed to be temporary.

Bernanke, being a self-proclaimed scholar of the Great Depression, is not going to allow another one to occur.

The US Federal Reserve chairman Ben Bernanke says America's creditworthiness is at risk if the country's borrowing limit is not raised.

"In the absence of that, given inflation, (Mr. Bernanke) is doing a very reasonable thing. "

If Fannie Mae and Freddie Mac remain in government hands, Bernanke said the government might create a company to offer mortgage insurance.

In testimony to a Senate committee, Mr. Bernanke painted a bleak picture of the U. S. economy.

In testimony to a Senate committee, Mr. Bernanke painted a bleak picture of the U. S. economy.

Bernanke said the Fed would consider action if matters worsened.

The original Bernanke-Paulson plan largely was a plan to shore up the derivatives while doing little about the underlying assets.

As Mr. Bernanke prepares to lead a meeting of the Fed's policy committee Tuesday, he must be asking himself: Are there any rabbits left?

Bernanke said he was "fundamentally optimistic" about the US economy.

Mr Bernanke will want to convince the markets that the change did not reflect Fed pessimism about the economic outlook.

Yet there was no denying the upbeat tone of Ben Bernanke's testimony to Congress on Tuesday July 21st.

Rather than throwing out the models, more work was needed to capture how the financial system impacts growth and stability, Bernanke said.

Bernanke made clear that the U. S. central bank has not decided what would prompt additional easing.

If Mr Bernanke's is the face that launches a thousand ships, the global economy may be the better for it.

Mr. Mishkin recognised the potential for a financial crisis in 2007, of course. Mr. Bernanke certainly did as well.

Bernanke says the recent financial turmoil means economic activity will be subdued through the rest of this year and into next year.

Mr Bernanke also hinted that he was prepared to employ more asset purchases if necessary.

As a scholar of the Great Depression, Ben Bernanke, the Fed's chairman, will not make that mistake.

"We have $800bn, " Bernanke replied, though even that astronomical number was an understatement.

In a speech on June 7th Ben Bernanke, the chairman of the Fed, acknowledged growth had been "uneven. . . and frustratingly slow. "

Then there are worries about Mr Bernanke's credibility. Wall Street is still getting used to the shift from Alan Greenspan.

Ben Bernanke, the Fed chairman, was meant to be anticipating his "central banker of the century" award, and enjoying a well-earned rest.

Fed chairman Ben Bernanke has affirmed that deflation will not be allowed to occur.

Mr Reinhart says the Bernanke Fed has taken a " principled decision" not to talk directly about the likely path of interest rates.

Bernanke is likely to outline his options when he takes the podium at a conference in Jackson Hole, Wyoming, on Friday.

Much more radical monetary policies could, but Mr Bernanke seems not to be contemplating these.

Over the next 20 months, Mr Bernanke employed ever more creative means to inject liquidity into the financial markets.

In a recent speech Mr Bernanke made it clear that he saw little sign of the housing recession spreading elsewhere.

Federal Reserve Chairman Ben Bernanke said later that the markets went into "anaphylactic shock. "

If Mr. Bernanke had given in to that kind of pressure, manufacturing would have continued its relentless decline.

Six years and a housing-cum- credit bubble later, chairman Bernanke must be sadder and wiser.

It was not until his July testimony to Congress that Mr Bernanke managed to get a balanced message across.

Ben Bernanke led the central bank through extraordinary efforts to contain the worst economic crisis since the nineteen thirties.

So at the very least, Bernanke will be expected to hold our hands a little when he speaks.

Bernanke is likely to buy tranches of Treasuries quarterly, spread out over a year.

The beige book is especially important after cautious words from Fed chairman Ben Bernanke last week led to a sell-off in stocks .

Mr Bernanke did not give a deposition, citing bank examiner privilege.

Less than two months ago, Wall Street was worried that Mr Bernanke's Fed would be too soft on inflation.

Fed Chairman Ben Bernanke has said the central bank would do whatever it can to prevent significant deflation in the U. S.

This explanation is broadly similar to the idea of a "global saving glut" which Ben Bernanke, the Fed's current chairman, has long espoused.

One patron who had paid Ms. Crowe $10, 000 for a Greenspan asked her to paint Mr. Bernanke.

The signal from Mr Bernanke is likely to soothe Wall Street, in that it confirms Fed support for investment banks through the credit crisis.

Ben Bernanke, the chairman of the Federal Reserve, would be well advised to heed his own advice from 2002.

Bernanke, in an emergency session in January, ordered one -- making for the single-biggest reduction in more than two decades.

Federal Reserve Chairman Ben Bernanke sounded more hopeful as he appeared Tuesday before the Joint Economic Committee in Congress.

The United States was represented by the Treasury secretary, Timothy F. Geithner, and the Federal Reserve chairman, Ben S. Bernanke.

In his testimony, Federal Reserve Chairman Bernanke offered what he called an important caveat to projections about recovery.

Federal Reserve Chairman Ben Bernanke said there have been signs that the sharp decline in economic activity may be slowing.

Shortly after Bernanke's remarks, Goldman Sachs Credit Research upgraded the U. S. banking sector to attractive from neutral.

Tweet. . BEN BERNANKE reckons it would be "a huge financial calamity" .

WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke may have to muffle his applause for the sturdier U. S. economic recovery.

On Wednesday, Federal Reserve Chairman Ben Bernanke gave his most pessimistic assessment to date of the U.

Indeed Mr Bernanke acknowledged that some of the demand that the Fed had hoped for later this year may have already come and gone.

Bernanke is due to participates in a question-and-answer session after a conference at the Federal Reserve Bank of Philadelphia on Thursday.

Bernanke says it took Washington years to run up these debts, and paying them off will have to be done over time with care.

And central bankers like Mr Bernanke may soon attempt to restore employment to unattainably high levels.

The meeting in Washington came at Paulson's request. Federal Reserve Chairman Ben Bernanke was also in attendance.

Chairman Ben Bernanke said a few weeks ago that the recovery's pace is "unusually uncertain, " which spooked investors.

Notwithstanding these mistakes, Mr Obama may be premature in giving Mr Bernanke credit for the great cure.

Bernanke's is the opening speech and is titled "Monetary Policy Objectives and Tools in a Low-Inflation Environment" .

Mr. Bernanke has made it clear that his policy is to inflate the money supply.

Ben Bernanke hopes quantitative easing will increase the flow of credit to the domestic economy and stimulate job creation.

The Fed was sticking to a pledge to keep rates at exceptionally low levels for an "extended period" , Bernanke said.

Federal Reserve Chairman Ben Bernanke begins the first day of his two-day semi-annual testimony before Congress on monetary policy.

Ben Bernanke, now the Fed chairman, recommended this course of action to Japan's policymakers in 2003 (when he was a Fed governor).

I am not saying that Bernanke had not done a good job once the crisis was created.

In recent speeches, Ben Bernanke, the Federal Reserve chairman, has warned as much about rising inflation as about stalling growth.

Federal Reserve Chairman Ben Bernanke and his colleagues say they will use unconventional methods to try to contain the financial crisis.

Hensarling says the FED strategy creates considerable risk, Bernanke was asked about the looming spending cuts known as the sequester.

Paulson is leading a U. S. delegation that includes several cabinet-rank officials and (Ben Bernanke, ) the head of the Federal Reserve.

BEN BERNANKE once spoke of dropping money from helicopters, if necessary, to save an economy in distress.

Ben Bernanke, the Federal Reserve chairman, recently highlighted the need for global imbalances to be corrected.

In 1983, a young Stanford economist named Ben Bernanke published the first of a series of papers on the causes of the Great Depression.

So far, Fed chair Ben Bernanke and the Fed board have argued against this logic (hence the continued rock bottom interest rates).

'Identity theft is a serious crime that affects millions of Americans each year, ' Mr. Bernanke said through a Fed spokesman.

Three White House officials said on Sunday morning talk shows that Mr. Bernanke had enough votes for another term.

Senators who opposed a second term for Ben Bernanke as Fed chairman were more likely to cite regulatory failures than high unemployment.

But Bernanke has already assured the Congress that rates are going to stay low for the foreseeable future.

"We continue to expect economic activity to bottom out, then to turn up later this year, " Bernanke testified.

"The unemployment rate, if at all, is coming down very, very slowly, " Bernanke told students at Jacksonville University.

Once it struck, Mr. Bernanke acted boldly to soften its blow and may have prevented a repeat of the Great Depression.

Ben Bernanke, chairman of the US Federal Reserve, laid out the issues in a thought-provoking speech last week.

Mr Bernanke's message that he won't risk inflation for the sake of short-term growth is now understood by bond markets.

The dollar continued its long decline, after Bernanke's remarks were taken to mean interest rates would stay low for a prolonged period.

Bernanke's optimism that the economic recovery will begin next year is not shared for the UK by accountancy firm BDO Stoy Hayward .

"As the global economy recovers and trade volumes rebound, however, global imbalances my reassert themselves, " Bernanke warned.

Mr Bernanke has already said the Fed would eventually sell some MBS, but not now.

Mr Bernanke did not specify which was the bigger threat: recession or inflation.

It would be the height of folly to reward Mr Bernanke for the recovery that never stuck.

The destination of my five dollars may disappoint Mr. Bernanke and others who'd like to see greater activity right here in America.

Almost a third of the Senate voted against confirming Ben Bernanke to a second term as chairman.

"God, I'm so wasted, " added Bernanke, resting his head on the bar.

Mr Obama is said to credit Mr Bernanke with a leading role in helping to avert economic catastrophe.

America has an extra risk because Wall Street suspects that Ben Bernanke, the Fed's new chairman, may be a soft touch on inflation.

And on matters fiscal, the G. O. P. program is to do almost exactly the opposite of what Mr. Bernanke called for.

Bernanke admitted in his 60 Minutes interview that he did not see the panic of 2008 coming.

Of all the decisions made by Hank Paulson and Ben Bernanke, the one to let Lehman go under stands as the most pivotal.

Then it took Mr Bernanke two attempts and a collapse in the Dow to persuade Congress to approve emergency bailout funds.

Big currency moves have come just since late August, when Fed Chairman Ben Bernanke first signaled more easing was possible.

Mr Bernanke said consumer spending power would be "boosted by the fiscal stimulus" in the coming months.

And on June 3rd Ben Bernanke, chairman of the Federal Reserve, dwelt on the currency in a speech to a European audience.

The political battle over President Obama's plan to overhaul financial regulation has put Mr. Bernanke in an awkward position.

Mr. Bernanke said his first line of defense against another bubble would be to use the Fed's regulatory muscle.

His successor Ben Bernanke has also avoided the word "bubble" .

Opposition by some Democrats to a second term for Fed Chairman Ben Bernanke added to the uncertainty.

Mr. Bernanke and his colleagues were clearly caught by surprise, but the budget expert Stan Collender predicted it all.

But even for the U. S. it is uncertain that Mr. Bernanke can hold to his 2% inflation target.

On the inflation front, Bernanke said that inflation expectations, to date, appear to have remained reasonably well anchored.

But unwise US fund managers have been berating Ben Bernanke, the US Federal Reserve chairman, for not bailing out the market.

Federal Reserve Chairman Ben Bernanke is an Amazon Kindle fan, but recently told a newspaper reporter that he was considering an iPad.

Central bank chief Ben Bernanke says helping the economy is now more important than fighting inflation.

Bernanke deems those extraordinary steps crucial to avoiding a repeat of the Great Depression.

Ben Bernanke and his colleagues at the Federal Reserve have cut the interest rates they control repeatedly since last September.

Mr Bernanke rejected this approach in 2002, but is willing to re-evaluate it in the light of recent events.

Today, the Fed is indeed desperate, and Mr. Bernanke, as its chairman, is putting some of the paper's suggestions into effect.

For six months critics have been screaming that Bernanke's loose policy would set off massive inflation and destroy the value of the dollar.

"Bernanke is being an academic . . . He has no idea how bad it is out there. He has no idea! "

But others among the Jackson Hole crowd offered two reasons for backing another term for Mr. Bernanke.

Americans simply cannot trust Bernanke, who has continuously lied to the American public and been wrong about everything.

Meanwhile, Mr Bernanke said: "We have seen tentative signs that the sharp decline in economic activity may be slowing. "

Mr. Bernanke also suggested ways to address the 'potential fragility' of money-market mutual funds.

Shortly after Lehman's collapse in 2008 Mr Bernanke told Congress that the government had "declined" to rescue the bank.

But once the gravity of the crisis became clear, Mr Bernanke knew what he had to do.

Report regulators have criticized former Federal Reserve Chairman Alan Greenspan and his successor Ben Bernanke.