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Bernanke Says Pessimists Wrong as Innovation Spurs Growth

Fed Chairman Ben S. Bernanke
Federal Reserve Chairman Ben S. Bernanke rebutted the view of academics who predicted U.S. growth may stall over the next century in a paper published by the National Bureau of Economic Research last August. Photographer: Tim Boyle/Bloomberg

May 18 (Bloomberg) -- “Pessimists may be paying too little attention to the strength of the underlying economic and social forces that generate innovation in the modern world,” said Federal Reserve Chairman Ben Bernanke in a speech. * Fed chairman, who didn’t comment on policy or U.S. economic

outlook, gave commencement address at Bard College in Great

Barrington, MA * Bernanke rebutted view of academics such as Northwestern

Univ. professor Robert Gordon, who predicted U.S. growth may

stall during the next century

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To contact the reporter on this story: Dan Hart in Washington at +1-202-624-1870 or dahart@bloomberg.net

To contact the editor responsible for this story: Dan Hart at +1-202-624-1870 or dahart@bloomberg.net

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