The former Fed chairman also said the central bank faces "a tough call" on whether or not it should raise interest rates for the first time in nearly a decade, the Journal said.
He said the "next few months" will determine if the U.S. economy stays on track, and he reiterated the importance of bringing inflation back up.
Bernanke made similar comments on CNBC's "Squawk Box" on Monday. "[The Fed] has a 2 percent inflation target. It needs to get inflation up to that target," he said.