Bernanke Says about Fed budget USA

EUR Extends Gains Vs USD
EUR has extended its gains vs USD and notched a session high at 1.3627, according to EBS via CQG, although it remains within recent ranges. USD is being pressured by indications from Fed Chairman Ben Bernanke that the US central bank remains sidelined in terms of monetary tightening. EUR has since slipped to $1.3615. GBP at 1.5459

Bernanke : Budget Deficit Of Around 2.5-3.0% Of GDP Sustainable
Bernanke Says Budget Path "Not Sustainable"

In answer to sustainability of budget path, Bernanke notes the forecasts of structural deficit range from 4% to 7% of GDP and are unsustainable. Under current projections, he says "we need to look at path of trajectory of deficit."

Bernanke Does Not Expect Federal Debt Default
In answer to Rep Frank question on federal debt, Bernanke says does not anticipate of US defaulting on debt or a ratings downgrade.

Bernanke Says Stimulus Did Help Job Situation
Rep Frank asks Bernanke about importance of stimulus policy to growth and jobs. Bernanke says most economists would agree stimulus policy did add jobs above what the baseline trend would suggest