Joblessness, housing still worry Fed

US Federal Reserve Chairman Ben Bernanke said the Fed remains quite concerned about unemployment and that the US housing market remains a critical challenge for the country. 

With the jobless rate still at 7.9 percent in October, and seven percent of mortgage borrowers in default on loan payments, he said turning the housing market around is crucial for strengthening a recovery in the world's largest economy. 

In a speech in Atlanta, Mr Bernanke said the improving US housing market is far from being out of the woods, due to overly tight lending standards by banks.