Bernanke: Financial crisis taught Fed critical importance of maintaining financial stability

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Federal Reserve Board Chairman Ben Bernanke speaks at the National Bureau of Economic Research Wednesday, July 10, 2013, in Cambridge, Mass. Bernanke spoke after the markets closed with stocks fluctuating between small gains and losses Wednesday morning, before the Federal Reserve released minutes from its most recent meeting. (AP Photo/Josh Reynolds)

WASHINGTON – Chairman Ben Bernanke says the 2008 financial crisis showed the Federal Reserve that it must strengthen its approach to both regulation and interest-rate policies.

Bernanke say the economy has yet to fully recover from the downturn, during a speech in Cambridge, Mass. to the National Bureau of Economic Research in Cambridge, Mass.

His speech focused on the Fed’s successes and failures in managing the economy over the past 100 years. Bernanke told the audience he would not address the Fed’s current policies in his speech but that he expected to be asked about it during a question and answer period.

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