Published by Mark Smith-HalvorsenFederal Reserve chairman Ben Bernanke has warned that the US economy faces considerable headwinds and can expect little more than "moderate" expansion in the months to come.Comments from the central banking chief, who is awaiting appointment for a second term as Fed chairman, came yesterday (December 7th) in an address to the Economic Club of Washington."The economy confronts some formidable headwinds that seem likely to keep the pace of expansion moderate," he told members of the association.Bloomberg reports that the chairman reiterated his pledge to keep interest rates at near-zero levels for a sustained period.Meanwhile, in a speech made to lawmakers in Brussels yesterday, European Central Bank president Jean-Claude Trichet said a stronger dollar would be vital in facilitating economic recovery.He called for the "gradual and orderly appreciation" of Asian currencies against both the dollar and the euro to mitigate trade disparity and encourage a return to global prosperity.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site