Bernanke also left the door open for further measures of quantitative easing.
The Fed chairman acknowledged that the deficit reduction was necessary, but stressed that the health of the U.S. economy may be endangered if nothing is done to encourage hiring now.
He believes that keeping interest rates at their historic lows will not be enough to stimulate growth in the short term.
Ben Bernanke made the remarks as part of an annual conference on the economy, Jackson Hole, Wyoming.
He used his platform to criticize the behavior of Congress during the crisis on raising the debt ceiling, earlier this summer. According to him, the repetition of such a scenario could have adverse consequences on the economy.
The crisis in Washington has worsened anxiety in financial markets, already anxious because of the problems of sovereign debt in Europe.