Fed chair stepping before '60 Minutes' cameras

WASHINGTON - With the financial crisis deepening and public anger about bailouts growing, Federal Reserve Chairman Ben Bernanke is taking a rare step to get his message out: a TV interview.

Bernanke, in a taped interview with CBS' "60 Minutes," will discuss the financial crisis, the recession and what the Fed is doing to help fix them. The segment will air Sunday. It's rare for a sitting Fed chief to grant an interview -- whether for broadcast or in print.

"Chairman Bernanke believed the invitation from '60 Minutes' presented a useful opportunity for the Federal Reserve to communicate broadly during this extraordinary economic time," Fed spokeswoman Michelle Smith said.

Earlier this week, Treasury Secretary Timothy Geithner appeared on PBS' "The Charlie Rose Show," where he talked about the financial crisis and the Obama administration's efforts to provide relief.

The government has put billions of taxpayers' dollars at risk with bailouts of financial institutions.

Those that have been thrown lifelines include American International Group Inc., Citigroup Inc., Bank of America Corp., mortgage giants Fannie Mae and Freddie Mac and others.

In Congress, the Fed has come under fire from both Republicans and Democrats for not being more open about its rescue operations, which are usually decided in closed-door deliberations.

Bernanke has resisted, saying such public information could cause a run on the financial institution or erode confidence in it, defeating the purpose of the Fed's programs.