NEW YORK – The economy’s recovery “has been frustratingly slow,” although it showed “signs of improvement” recently, Federal Reserve Board Chairman Ben Bernanke said Wednesday.
Speaking to community bankers via prerecorded video, Bernanke said the slow recovery, constrained “opportunities for profitable lending,” according to prepared text of his remarks, released by the Fed.
While not discussing monetary policy, Bernanke noted, “regulation and supervision are among the top concerns for community banks.”
He called for “two-way communication between regulators and community banks,” and said, “banks need to understand supervisors' policies and expectations, but supervisors must also listen to and understand banks' concerns.”
