By Ben Tan — July 27, 2009

Ben S. Bernanke, chairman of the Federal Reserve, participated in a town hall-style forum in Kansas City, Mo. yesterday.  The forum was organized and moderated by Jim Lehrer of “The NewsHour” on PBS.  It is the latest stop in a publicity campaign with a message: the central bank is here to help, and is not as mysterious or menacing as people may think.  Bernanke took questions from local residents and disputed charges that the Fed was conspiring with big banks or stifling free-market capitalism.  

A small-business owner asked Bernanke why the Fed helped rescue big banks while “short-changing” small companies.

Bernanke replied that he had decided to “hold my nose” because he feared the entire financial system would collapse.

“I’m as disgusted by it as you are,” said Bernanke before an audience of 190.

“Nothing made me more angry than having to intervene, particularly in a few cases where companies took wild bets.”

The forum resembled that of a political candidate, and indeed Bernanke’s four-year term expires in January.  Bernanke has put himself in the public spotlight to an extent far beyond that of his predecessors, departing from the bank’s tradition as an aloof, secretive temple of economic policy.  The bank has already become more open in the decade before Bernanke took charge, and his predecessor Alan Greenspan achieved fame during his long tenure.  But Fed officials still distanced themselves from partisan politics and day-to-day business life.  

Bernanke, on the other hand, has given a television interview to “60 Minutes” on CBS, including a tour of his hometown, Dillon, S.C.  He held essentially a televised news conference and has written newspaper commentaries to explain the Fed’s efforts to fight the financial crisis.  Last week Bernanke published a lengthy commentary in “The Wall Street Journal” and testified before three separate Congressional committees.