Bernanke: too early to declare lasting recovery

WASHINGTON: Federal Reserve Chairman Ben Bernanke says it is still too early to declare that the budding recovery will last.

In remarks before the Economic Club of Washington, the Fed chief says: ``We still have some way to go before we can be assured that the recovery will be self sustaining.''

Bernanke repeats his hope that the recovery will continue at least into next year. But he cautions that the U.S. economy is confronting some ``formidable headwinds'' such as a weak job market, cautious consumers and still-tight credit.

He says those forces ``seem likely to keep the pace of expansion moderate.''