Federal reserve Chairman Ben Bernanke asserted in his semi-annual testimony before the house representatives that the American labor markets depression continue to weigh on economic progress, while Bernanke saw economic growth pace this year has been quite modest despite the economic slowdown witnessed across the country's activities lately.

Bernanke on the other hand reassured markets that pace of recovery shall be picking up in the upcoming quarters where the country will hopefully witness advanced growth rates, as Feds expressed its fully readiness to run further stimulus, while Bernanke saw late inflation hike to be temporary.

Furthermore Bernanke saw household confidence along with spending levels would probably climb in the mid-term and the causes of the recent economic slowdown is more to be transitory, thereby the Feds warrant the economy interest rate shall be shall remain unchanged at record low between 0.00% and 0.25% for an extend period and the feds shall maintain its current monetary ease by purchasing more securities.