By Vicki Needham - 02/22/11 08:24 PM EST
The unemployment rate was 9 percent in January, and Bernanke has warned it could take up to four years for the jobless rate to drop to between 5 and 6 percent again. Economists have estimated the jobless rate will hover around 9 percent for most of this year before dropping to 8 percent next year.
The Fed chief recently said the economy is strengthening, but that businesses with money to invest need to begin hiring to help reduce the unemployment rate.
House Budget Committee Chairman Paul Ryan (R-Wis.) recently said he is concerned the central bank won't be able to detect inflation until "the cow is out of the barn."
Bernanke has downplayed that nation's inflation risks while arguing the central bank can keep inflation at bay if prices begin to rise.
Also, while the economy continues to recover from the recession, Bernanke has said the central bank would continue to keep interest rates near zero.