Former Federal Reserve Chairman Ben Bernanke doubts that the economy will ever flourish quite as much as President Donald Trump has envisioned.
Asking if he thought growth could hit 3 percent or better, “on a sustained basis, it’s certainly possible, but not likely,” the two-term central bank leader told CNBC.
Should Congress pass a tax cut, as Trump has proposed, “You might have a bump because of the increased consumer spending,” he said.
However, if he was to bet on whether the economy would break the 3 percent barrier, Bernanke said, “I would take the under on that.”
Bernanke said he was generally pleased with how the economy has functioned since he left office.
“I think so far so good,” he said. “It wasn’t too long ago when people on shows like this were saying that we were going to have hyper-inflation and huge stock market bubbles and dollar collapse and