In his inaugural economic report to Congress, Federal Reserve Chairman Ben Bernanke -- citing indicators such as jobs, and retail sales -- said the nation's economic expansion remains on track, but did not rule out future interest rate hikes.

Bernanke, who succeeded Alan Greenspan as Fed chief on Feb. 1, said the economy emerged from an end-of-year downslide and told lawmakers that it has "a lot of staying power."

In the final quarter of 2005, the economy grew a scant 1.1 percent -- its slowest rate in three years.

Bernanke's first meeting to decide interest rates will be March 27-28.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access