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Bernanke Praises Record But Admits Mistakes

Federal Reserve Chairman Ben S. Bernanke told lawmakers today that his agency's actions had helped avoid making the recession worse, though conceded that they could have done more.

By Claude R. Marx | Updated on December 02, 2009

Federal Reserve Chairman Ben S. Bernanke told lawmakers today that his agency’s actions had helped avoid making the recession worse, though conceded that they could have done more.

The Fed’s moves “contributed substantially to the improvement in financial conditions and to what now appear to be the beginnings of a turnaround in both the U.S. and foreign economies,” he said during testimony before the Senate Banking Committee at his confirmation hearing for a second term.

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