Ben Bernanke is going to the Capitol Hill today to tell as to what are his forecasts about the economy.

It is expected that he will continue to hold on to his views that say that the recovery is going to be a slow process. This is happening since whatever recovery has happened is not backed by rise in employment. The wages continue to be stagnant, the house values are still very low and the numbers of foreclosures are still very high.

Moreover, it is becoming increasingly difficult for the government to make credit easily available.

Currently, Barnanke is facing the tough challenge of making sure that the massive stimulus package of the government is able to get desired results.

He will be presenting his estimates to the Joint Economic Committee.

Meanwhile, in other news, it was reported that William English is going to replace Brian Madigan as the director of Fed's Monetary Affairs division.

The most important work of this division is to take part in deciding the key interest rates.

William is a well-trained economist. He has worked for a very long time with the Reserve.