At the meeting of central bankers Friday, Federal Reserve Chairman Ben Bernanke said, "... the country would be well served by a better process for making fiscal decisions. The negotiations that took place over the summer disrupted financial markets and probably the economy as well, and similar events in the future could, over time, seriously jeopardize the willingness of investors around the world to hold U.S. financial assets or to make direct investments in job-creating U.S. businesses."
He called for a better budget process. But, he said, "formal budget goals and mechanisms do not replace the need for fiscal policymakers to make the difficult choices that are needed to put the country's fiscal house in order, which means that public understanding of and support for the goals of fiscal policy are crucial."
Bernanke didn't announce any new Fed efforts to boost the economy.
International Monetary Fund head Christine Lagarde told the bankers' group on Saturday that risks to the global economy "have been aggravated further by a deterioration in confidence and a growing sense that policymakers do not have the conviction, or simply are not willing, to take the decisions that are needed."