FED CHIEF BEN BERNANKE HAS BEEN HAVING TOUGH TIMES EVER SINCE HE TOOK OVER. IN HIS TESTIMONY TO THE CONGRESS, HE HAS ADMITTED THAT US MIGHT BE INTO RECESSION. HAVING SENSED THIS OVER A MONTH BACK, HE TOOK FAR REACHING AGRESSIVE STEPS OF CUTTING DOWN THE US RATES BY OVER ONE PERCENT IN LESS THAN A MONTH. WITH INFLATION TOO GAINING GROUND, FUELLED PRIMARILY BY CRUDE OIL PRICES AND ALSO BY INCREASING FOOD PRICES (GUIDED BY THE GROWTH OF WORLDS MOST POPULOUS COUNTRIES CHINA AND INDIA) , BERNANKE MIGHT BE FORCED TO SLOW DOWN FURTHER CUTS IN FED RATES. IN A WORST CASE SCENARIO OF INFLATION SHOOTING UP FURTHER, FED MAY EVEN GO FOR REVERSING THE INTEREST RATE CUTS AS EARLY AS JULY 2008 SAY ANALYSTS.