Chairman Ben Bernanke could offer some clues about whether the Federal Reserve is poised to take another step to jolt the sluggish U.S. economy when he appears before Congress this week.

Bernanke will give his semiannual report to the Senate Banking Committee Tuesday and to the House Financial Services Committee Wednesday. His testimony comes as job growth has slumped, manufacturing has weakened and consumers have grown more cautious about spending.

Investors are hoping Bernanke will signal another round of bond purchases is in the offing. The purchases seek to push down long-term interest rates and encourage more borrowing and spending. The first two rounds triggered powerful rallies in the U.S. stock market.

The economy was already sputtering when the Fed's policymaking committee last met June 19-20. At that meeting, the Fed decided to extend a program that shifts its bond portfolio to try to lower long-term interest rates.