Bernanke acknowledges errors while fighting to keep post

At a confirmation hearing before the Senate banking committee, Federal Reserve Chairman Ben Bernanke reiterated that his actions helped keep the economy from sinking into another Great Depression. He also admitted that he has made mistakes in his effort to manage the economy. "There were mistakes made all around," Bernanke said. "I did not anticipate a crisis of this magnitude and this severity." The hearing was held to decide whether Bernanke should be given another four years as head of the Fed, but lawmakers spent much of the time discussing the future of the central bank.

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