Fed Chairman set to testify on Capitol Hill; Watch live coverage here - WMC Action News 5 - Memphis, Tennessee

Fed Chairman set to testify on Capitol Hill; Watch live coverage here

Watch LIVE coverage of today's committee testimony (when the committee is in session) in the player window above.


CAPITOL HILL (AP) - Federal Reserve Board Chairman Ben Bernanke can expect to be asked about yesterday's stock market meltdown when he goes before a House committee today.      

The decline was the result of investor concern that the U-S and Chinese economies won't grow as much as expected. Monday, his predecessor, Alan Greenspan, warned the U-S economy could slip into recession by year's end.      

During appearances on Capitol Hill two weeks ago, Bernanke was upbeat about the economy. He said inflation, not slow economic growth, was the main concern.      

Like Greenspan, analysts don't expect Bernanke to comment on the big drop, other than to say the Fed is keeping an eye on the situation.            

(Copyright 2007 by The Associated Press.  All Rights Reserved.)

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