Federal Reserve Chair Ben Bernanke testified in a hearing on the Humphrey-Hawkins Semiannual Monetary Policy Report, current economic conditions, and the outlook for the financial sector and the broader economy. In his remarks he said while the economy is showing “tentative signs of stabilization,” the central bank intended to maintain a “highly accommodative” monetary policy for “an extended period.” He defended the central bank’s actions to restore financial stability, urged lawmakers to lay plans for reining in the deficit, and warned Congress against impinging on the Federal Reserve’s independence. He also answered questions about proposals to reorient some regulatory powers of the bank.