Money | Ben Bernanke Bernanke: Stage Set for Recovery Fear not, investors, Fed chairman insists By Kevin Spak Posted Oct 14, 2008 6:25 AM CDT Copied Japan Finance Minister Shoichi Nakagawa, left, and US Federal Reserve Chairman Ben Bernanke, right, take their seats at the International Monetary Fund headquarters, Saturday, Oct. 11, 2008. (AP Photo/J. Scott Applewhite) Americans face a historic financial crisis, but they needn’t worry because policy makers have responded in time, writes Ben Bernanke in today’s Wall Street Journal. “History teaches us that government engagement in times of severe financial crisis often arrives very late,” Bernanke says. “Fortunately, that is not the situation we face today.” He expects this morning’s soon-to-be-announced steps to “restore more normal market functioning.” This morning’s moves, which, Bernanke is quick to point out, are facilitated by Congress’ passage of the bailout plan, are consistent with a heartening international response from the G-7. These moves should address the root of the problem: the loss of investor and public confidence. Challenges will remain, of course, but “the tools are in place,” Bernanke writes. “We will not stand down until we have achieved our goals.” Read These Next 11 people hurt in a "brutal act of violence" in Michigan. We knew Letterman would pipe up about Colbert eventually. A parent's nightmare, in a white cardboard box. Now we know why Ghislaine Maxwell may have opened up to the DOJ. Report an error