Chairman of the Federal Reserve, Ben Bernanke, delivers testimony before the US Senate Joint Economic Committee May 5, 2009, on Capitol Hill in Washington, DC. Bernanke on May 11, 2009 said the risk of deflation was "receding," but urged "aggressive" moves to remain vigilant."We have to be very aggressive. .. to avoid any risk of deflation, which I now believe is receding," he said.