Bernanke: We Welcome Fiscal Policy Help on Recovery

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July 18 (Bloomberg) -- Federal Reserve Chairman Ben Bernanke speaks during testimony before the Senate Banking committee.


Thank you very much.

On hyperactivity, but we'll learn during the crisis was that we did not have the right tools.

-- what we learned during the crisis was a we did not have the right tools.

We didn't have appropriate oversight.

There is a lot of weakness in her oversight, regulatory system . it sometimes seemed frenetic because the fed was trying to improvise in many cases.

We have made some progress in setting up a more orderly framework for both strengthening our financial system, monitoring it and responding in cases of another emergency.

I hope that's the case.

It is true that monetary policy has carried an awful lot of the burden for this recovery.

I'd be more than happy to share that burden more equally with other policymakers, but i recognize it has been a difficult time politically for people to come to agreement on some very important issues.

I don't think you have mentioned the enabler idea.

I don't think it's my place or the federal reserve's place to try to force congress to come to any particular outcome.

If congress is ultimately who is responsible, our role is to take what congress does and try to figure out how best to mandate.

This text has been automatically generated. It may not be 100% accurate.


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