Bernanke’s official position on how he’s going to “drain reserves” when the time is right – to prevent undesirable inflation (obviously he is in favor of some inflation at the current time) – is to raise the interest rate the Fed is paying on bank reserves – essentially freezing them in place (and encouraging their increase) so they are removed from business and commerce (note that “draining the reserves” in this model doesn’t actually mean decreasing them, just keeping them away from everyone but the Fed).
I get the impression that Professor Bernanke is still really attached to his academic theories about monetary policy even when they have not worked, are not working, and make no sense in the real world (the Friedman Effect).