(RTTNews) - Federal Reserve Chairman Ben Bernanke said Monday that there was only so much the central bank can do with further interest rate reductions, but stressed that the Fed could still use its other tools to help support financial markets and stimulate the economy.

Speaking at an event hosted by the the Greater Austin Chamber of Commerce in Austin, Texas, Bernanke said that financial markets are better off for the moves authorities have taken lately, but noted that a total fix has not come yet.

He also stated that the economy will likely remain weak for some time.

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