Ben Bernanke, the chairman of the Federal Reserve warned the Republican Lawmakers in a statement released on Wednesday that if the debt limit of the US is not raised from its current 14.3 trillion dollar stand without further delay, the consequences could be catastrophic.

The Federal Reserve chairman Ben S. Bernanke, behind closed doors, termed it as the worst financial crisis in global history, including the Great Depression.

He stated that out of the thirteen most important financial institutions of the nation twelve institutions including Goldman Sachs had been on the verge of collapse within a week or two.

Federal Reserve officials in the last year, poked by Chairman Ben Bernanke, seriously thought of taking up a clear target for inflation of two percent, but Mr. Bernanke failed to bring out a consensus and backed away. The same issue could resurface in 2011.

U. S. economy is reviving gradually and things are looking up for the county is what Bernake chairman of the Federal Reserve had to say about the economical condition but he also warned that despite the growth, the economy has not yet reached the stage where it can wipe out the lingering joblessness and bring down the rate as quickly as the policy makers would want.

Oil reached its highest level of the last twenty six months as indication that the US economic recovery is speeding up and that raised hopes that demand for crude in the world's largest oil consuming nation will increase.

Mr. Ben. S. Bernanke, the chairperson of the Federal Reserve Bank, will be expressing his opinion on Friday stating that due to undervaluation of currencies in China and other developing markets there exists the imbalances in trade which is posing a growing economic and financial risk.

For the second time in less than ten years time there might occur a possibility of underestimating the future inflation risk by the Federal Reserve as they plan to flow in more cash in the American economy.

Ben Bernanke, the Federal Reserve Chairman is an interview-shy personality, but his views over the U. S recovery and the monetary policies are often reflected in the public statements he makes.

The share markets of Australia saw a fall on Monday as the US dollar had recovered and impacted the commodity prices and the US stock index futures. These happened after the speech given by the Chairman of the Federal Reserve Mr.

It is likely that one more round of policy easing will be implemented by the Federal Reserve. But reports on jobs might spoil the whole mood of the launch party.