NEW YORK ( TheStreet) -- Ahead of Federal Reserve Chairman Ben Bernanke's speech on Tuesday that pressured lawmakers to act swiftly, former Godfather's Pizza CEO Herman Cain offered TheStreet his opinion on the Fed's recent actions.

Cain said he didn't agree with a lot of the Fed's moves, but he conceded that officials had been forced to come up with "unconventional" actions because of a $14 trillion debt.

"I believe that the Federal Reserve has gotten itself into a pickle, which means that I don't agree with a lot of the actions of the Federal Reserve," Cain said.

Cain was chairman of the Federal Reserve Bank of Kansas City from January 1995 to August 1996 and had served on its board since 1992.

"They've the Federal Reserve been forced to come up with these unconventional actions because of the $14 trillion debt, No. 1, and secondly, because foreign countries that would typically stand in line to buy our debt -- there's not as many buyers buying our debt," Cain said.

Cain suggested he could fix the problems incurred by the Fed by boosting the economy and controlling spending. He said that the United States had to bring down annual deficits.

Cain added that Congress had to redefine the mission of the Federal Reserve to focus on price stability and monetary policy stability.

"Sound money is critical," Cain said.

-- Written by Joe Deaux in New York.

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