The chairman of the Federal Reserve warns that the housing crisis isn't over yet.

Ben Bernanke told a group of bankers that the government and the private sector have been helping but more needs to be done.

He called on lenders to cut loan amounts to struggling homeowners.

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He said that may be tough, because the lenders are worrying that home prices will continue dropping.

Bernanke also said that rising foreclosures worsen the problems the nation is already facing and have a psychological impact.

"Foreclosures not only create personal and financial distress for individual borrowers but also can significantly impact neighborhoods where foreclosures cluster," Bernanke said.

Bernanke did not talk about interest rates during his speech.

But the fed is expected to cut rates again later this month.