Bernanke took charge as the Fed awoke in 2008 to the need for a full-on war against "global economic and financial freefall."

Banks are easing credit for most types of lending; commercial and industrial loan volume is up 7.5 percent year over year.

Banks are easing credit for most types of lending; commercial and industrial loan volume is up 7.5 percent year over year.

As expected, FOMC agrees to reduce monthly bond buying by another $10 billion in unanimous decision.

As expected, FOMC agrees to reduce monthly bond buying by another $10 billion in unanimous decision.

Consumer spending maintained gains and business investment grew, according to the Fed's Beige Book.

Consumer spending maintained gains and business investment grew, according to the Fed's Beige Book.

Minutes from the Fed's May 1 meeting indicate that policymakers are not yet ready to rock the boat.