Federal Reserve Chairman Ben Bernanke described the economic prospect as "unusually uncertain," and promised to take additional steps to bolster recovery if economy worsens.

The fed "continues to anticipate that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period," Bernanke said when testifying before the Senate Banking Committee on the latest monetary policy report.

The Fed has maintained the federal funds rate unchanged at a record low of between zero to 0.25 percent since the end of 2008 to prop up the economy.

"Even as the Federal Reserve continues prudent planning for the ultimate withdrawal of extraordinary monetary policy accommodation, we also recognize that the economic outlook remains unusually uncertain," he said.

"We will continue to carefully assess ongoing financial and economic developments, and we remain prepared to take further policy actions as needed to foster a return to full utilization of our nation's productive potential in a context of price stability. "
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