In economic news, Federal Reserve Chair Ben Bernanke told Congress on Monday that another economic stimulus may be needed to boost the economy.

Ben Bernanke: “Moreover, with the outlook exceptionally uncertain, the optimal timing, scale and composition of any fiscal package are unclear. All that being said, with the economy likely to be weak for several quarters and with some risk of a protracted slowdown, consideration of a fiscal package by the Congress at this juncture seems appropriate.”

This marks the first time the central bank chair had explicitly endorsed a second stimulus package. The government sent out about $100 billion in tax rebate checks over the summer to try to jump-start the economy, but consumer spending has struggled since then.