The minutes from the Fed's October meeting will be released on Wednesday and are likely to be scrutinized closely for clues on the outlook.
(Read more: If Fed minutes reveal taper talk, keep an eye on yields)
"He did sound a little dovish," Blackhorse Asset Management Chief Economist Richard Duncan told CNBC Asia's "Squawk Box," talking about Bernanke's speech.
"He started off talking about transparency and communication and that's fine, but what moves the market is liquidity not communication and right now the Fed is creating so much excess liquidity in the economy that it is pushing up asset prices," he added.
A stellar rally on Wall Street shares, underpinned by the Fed's monetary stimulus, has fuelled talk of a bubble in stock markets that could pose risks of their own to the U.S. economic outlook.
(Read more: No market bubble, but some froth: Traders)
The S&P 500 hit a record high at around 1,802 points earlier this week and is up more than 30 percent so far this year. The Dow Jones Industrial Average meanwhile has soared 25 percent.
"There was no shock, no awe, no surprises from Bernanke's speech," Bob Iaccino, chief market strategist at TopstepTrader, told CNBC. "Given that the aim of this Fed was to re-flate, inflate asset prices, they've done well."
When to taper?
In his speech, Bernanke said the Fed would continue to watch labor market conditions closely.
"The FOMC still expects that labor market conditions will continue to improve and that inflation will move toward the 2 percent objective over the medium term. If these views are supported by incoming information, the FOMC will likely begin to moderate the pace of purchases," he said.
The FOMC next meets on December 17 and 18 and most economists expect the central bank to start tapering its monetary stimulus in either January or March.
"It is possible that we get a March taper. But that's because if we don't get a March taper there will be so much excess liquidity that the stock market will blow up into an enormous bubble," Duncan said.
—Reuters contributed to this article.