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Bernanke praises Fed's move to transparency

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MARTIN CRUTSINGER | November 13, 2013 07:01 PM EST | AP


WASHINGTON (AP) — Federal Reserve Chairman Ben Bernanke says increasing the Fed's openness and accountability has been a top priority of his during the eight years he has been leader of the central bank.

Bernanke says the Fed, which is marking its centennial this year, was reluctant during its early years to explain its actions or otherwise engage with the public. But he said that began to change in the 1990s and the process has accelerated during his time as chairman.

Bernanke's comments came at a town hall meeting the Fed held Wednesday night with teachers gathered in Washington and participating by webcast around the country. It was the third teacher town hall meeting for Bernanke, who will be stepping down as Fed chairman on Jan. 31.