US economy has slowed significantly, says Ben Bernanke In terms of risk to the US recovery, Mr Bernanke pointed to the double barrels of the eurozone crisis and US debt. "The possibility that the situation in Europe will worsen further remains a significant risk to the outlook," he said, adding that European nations had both the incentive and the means to tackle the crisis. He again urged Congress to put in place a plan that would reduce US debt while keeping short-term stimulus in place. Growth rose a modest 2pc in the first quarter of this year, but Mr Bernanke said "available indicators point to a still-smaller gain in the second quarter." He said members of the Fed's top policy-setting panel had predicted that growth will reach 1.9pc to 2.4pc this year. These forecasts are lower than those we made in January, reflecting the generally disappointing tone of recent incoming data. He said households remained concerned about their prospects for jobs and income and their "overall level of confidence remains relatively low."