Bernanke Makes Case for Strong Fed Supervision

Jason McIntyre
Saturday, November 28, 2009

The chairman of the U.S. Federal Reserve is expressing concern about certain congressional reform efforts. In an Op-Ed piece that will appear in Sunday's Washington Post, Ben Bernanke says two proposed financial overhaul blueprints are 'out of step' with a consensus on central bank roles.

The Senate is weighing a bill that could strip the Fed's bank regulation authority.

Bernanke believes that some government actions may have been 'distasteful and unfair,' but they were required to steer clear of an economic abyss comparable to the Great Depression.

His second term nomination hearing begins on Friday.