Federal Reserve Chairman Ben Bernanke testifies before the Senate Banking, Housing, and Urban Affairs Committee, September 23, 2008.
"Heretofore I think these warnings have not been heeded," says Camp. That means that, even if the Fed can't singlehandedly boost job creation, it may be the only game in town, he adds: "I think the Federal Reserve has had to act as policy maker not only of last resort, but of only resort."
Danielle Kurtzleben is a business and economics reporter for U.S. News & World Report. Connect with her on Twitter at @titonka or via E-mail at dkurtzleben@usnews.com.
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