Bernanke: Economy is at Risk Without Help of Fed

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Federal Reserve Chairman Ben Bernanke told Congress Wednesday that the country's job market remains weak and warned against ending the Fed's stimulus program too soon.

Bernanke testified at a hearing of the congressional Joint Economic Committee. Chairman Rep. Kevin Brady, R-Texas, suggested the economy runs a risk of inflation due to the Fed's policy of buying bonds.

But Bernanke argued the Fed's current aggressive bond-buying and low rates are still needed.

According to a USA Today report he also said, "...tax increases and spending cuts have depressed the economy and reduced government employment by 800,000 workers the past four years."

And Bernanke warned that, "a premature tightening of monitary policy could lead interest rates to rise temporarily but would also carry a substantial risk of slowing or ending the economic recovery."

Read Bernanke's prepared remarks on the economic outlook

The Federal Reserve will continue with its efforts to stimulate the U.S. economy.

That policy Bernanke mentioned has initiated low interest rates and made borrowing cheaper. It's also helped the stock market rally this year.

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