WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke said on Thursday that he expects the U.S. economy to return to a long-term growth rate around three percent over time.
Speaking to students at George Washington University, he said U.S. growth was below its long-term trend now, still in a relatively weak recovery following the 2007-2009 financial crisis.
“We are below the trend line, there are debates about whether or not that decline is in some way permanent,” Bernanke said. “But I think there’s a reasonable chance...that the U.S. economy will return to healthy growth somewhere in the three percent range.”
Reporting By Glenn Somerville