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Fed's Kohn: Fed should have better seen mortgage crisis

Tue Mar 4, 2008 1:15pm EST

WASHINGTON, March 4 (Reuters) - Federal Reserve Vice Chairman Donald Kohn said on Tuesday the Fed should have better anticipated and warned about the current national mortgage crisis.

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"I think we did recognize the risk in a general way somewhat better than the banks did. We tried to warn people in speeches and conversations. It's quite possible that we could have been more forceful," Kohn told the Senate Banking Committee.

(Reporting by Patrick Rucker; Editing by Chizu Nomiyama )

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