In his second lecture, "The Federal Reserve after World War II" delivered Thursday, Bernanke said that U.S. households need to spend more on consumption in order to continue economic recovery.
“Consumer spending is not recovered, it’s still quite weak relative to where it was before the crisis. In terms of debt and consumption and so on we’re still way low relative to the patterns before."
After a period of capital consumption due to malinvestment encouraged by the central bank, the only way for the economy to get back on its way to economic expansion is via capital accumulation. That requires more saving not less, which means less consumption not more. Perhaps one of the reasons we got into the crisis is that people took on too much debt and engaged in too much consumption, while the Fed bank rolled the whole thing. If so, getting back to pre-crisis levels of debt and consumption is the last thing we need right now.