The chairman of the Federal Reserve, Ben S. Bernanke, warned Friday that the economy would “fall short of potential for a time” and urged regulators to develop a broader approach to policing the financial industry.

Speaking at a conference in Jackson Hole, Wyoming, Bernanke offered an economic outlook that was not significantly different from the comments released by Fed officials after their policy-setting meeting in early August. He did acknowledge that the effects of the recent financial crisis “are becoming apparent in the form of softening economic activity and rising unemployment.”

Bernanke still expected inflation to slow toward the end of the year, and he found the recent decline in oil prices “encouraging.” Echoing the Fed’s policy statement from Aug. 8, he said the outlook for inflation “remains highly uncertain,” and the central bank “will act as necessary” to keep prices stable.

The remarks, delivered at an annual retreat for Fed bankers and economists, came amid an extremely difficult environment for financial policymakers. Inflation has accelerated to levels not seen for decades, even as the housing slump and weak job market take a toll on household spending.

Indeed, Bernanke opened his speech by describing the financial crisis as a “gale force” and said the nation faced “one of the most challenging economic and policy environments in memory.”