“The country would be well served by a better process for making fiscal decisions,” he said.
Mr. Bernanke said he remained optimistic about future growth — he gave no indication that the Fed would increase its economic aid programs, though he said the central bank’s policy-making board would revisit the issue at a scheduled meeting in September — but he warned that the government had emerged as perhaps the greatest threat to recovery.
“The quality of economic policy-making in the United States will heavily influence the nation’s long-term prospects,” Mr. Bernanke said in the much-anticipated speech, delivered at a policy conference held each August here at a resort in Grand Teton National Park.
Read more here: Bernanke Blames Politics for Financial Upheaval