Hargreaves was forced to return to the United States for more rehabilitation work with Dr Richard Steadman where they have been battling a tendinitis problem with the players knees.
The 29 year old did make a brief comeback when he played half a reserve game before lasting just a minute when coming on as a sub in a first team game against Sunderland.
It does seem to be the general thoughts of everybody that if Hargreaves does not get over this problem soon then his playing career will be over.
"Owen is due back within the next two weeks," said Fergie.
"He seems to be making decent progress now. But if he comes back in two weeks when is he going to be fit to play for Manchester United? That is still to be found out."