As the House Budget Committee prepares for testimony from Federal Reserve Chairman Ben Bernanke at 10 a.m. ET, committee Chairman John Spratt, D-S.C., says one of the questions he wants answered is whether recent "glimmers of hope" for the economy are real or no. Here's what he told CNBC:

We'll have more about Bernanke's testimony once the hearing gets going. The Budget Committee plans to webcast the hearing. Meanwhile:

Update at 10:20 a.m. ET: In his testimony, Bernanke says the Fed continues to expect the economy will be on the upswing by late this year.