federal reserve chairman

A day after Federal Reserve Chairman Ben Bernanke declared the recession "very likely over," there are signs that consumers are still feeling the pressure.

Credit card charge-offs — the amount judged by banks to be uncollectable — went up in August.

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Federal Reserve Chairman Ben Bernanke says last year's taxpayer-financed bailouts of big financial companies was necessary to avoid a major meltdown of the U.S. financial system and the broader economy.

Bernanke's comments came during a town-hall style meeting in Kansas City, Missouri. The complete discussion with Bernanke airs in three parts, begining Monday on PBS' The NewsHour with Jim Lehrer. Frank Morris reports for member station KCUR.

Federal Reserve Chairman Ben Bernanke is on Capitol Hill this week seeking to reassure lawmakers about the state of the economy.

He told them Tuesday that as the economy begins to recover, the Fed will be on the lookout for inflation and has the tools to remove the massive stimulus it's injected to fight the financial crisis.