I tuned into the House Budget Committee Webcast, Challenges Facing the Economy: The View of the Federal Reserve . It was very interesting, with serious accusatory questioning by some committee members. However, Mr. Bernanke handled himself well. I came away with a few positives and many negatives such as: inflation is not a problem yet, the probability of deflation has decreased, the Fed's borrowing is lower today than in the past, and so far the stimulus money has been effective in infrastructure spending and transfer payments. However, the threat of a recession relapse is still possible, higher medical cost and social security depletion, caused by baby boomers retiring, could be problem sooner than later, and taxes may have to be increased to balance the budget. Since this is not an economic analysis blog per se, detailed analysis of the Chairman's statements will be left to another blog or person. What Mr. Bernanke testimony meant for me as a financial advisor going forward...