Ben S. Bernanke, chairman of the Federal Reserve, told Congress today that the economy is going to get worse before it gets better.

Ben Bernanke said despite solid growth of 3.9 per cent in the third quarter he expected slower growth and higher inflation through the end of the year and into early 2008 amid turmoil in financial markets and rising energy prices.

The Rising cost of doing business is expected to reduce job opertunities as employers shift costs to cover increased Shipping and Energy prices.