Federal Reserve Chairman Ben Bernanke on Friday said the Fed will use all tools to stabilize markets and set the stage for an economic recovery but provided no time frame for when a recovery will occur.
"The Federal Reserve will make responsible use of all of its tools to stabilize financial markets and institutions, to promote the extension of credit to creditworthy borrowers, and to help build a foundation for economic recovery," Bernanke said in a speech to a conference organized by the Richmond Federal Reserve Bank.
The Fed's use of unconventional tools to stimulate economic growth have been applauded by some and chastised by others.
Advocates say dramatic steps are necessary to ease the recession while opponents argue that it just creates other problems down the road, such as terrible inflation.
And that leads to our Fast Money reader poll. Overall, do you approve of the way Ben Bernake is handling the financial crisis?
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CNBC.com with wires