Federal Reserve Chairman Ben S. Bernanke said an overhaul of U.S. housing policy won’t likely occur any time soon since the economy is still healing.

“There’s pretty general agreement that whatever reforms need to take place” will probably “take some time,” Bernanke said Wednesday in response to a question after a speech in Cleveland. He was asked about the possible spinoff of government-sponsored enterprises Fannie Mae and Freddie Mac.

The Fed chairman said U.S. unemployment is a “national crisis” and that monetary policy “is not a panacea.” He said he understands the concern among savers about low interest rates.

Even so, “nobody is better off if the economy continues to be so weak,” he said.