Federal Reserve Chairman Ben Bernanke spoke at a college graduation Saturday in Massachusetts. He didn’t give any indication on his recent thoughts on the economy or the outlook for monetary policy.
My emphasis today will be on prospects for the long run. In particular, I will be looking beyond the very real challenges of economic recovery that we face today–challenges that I have every confidence we will overcome–to speak, for a change, about economic growth as measured in decades, not months or quarters.
Bernanke struck an optimistic tone, saying technological innovation and IT could just be scratching the surface of what is commercially possible.
