Bernanke forecasts gains from computer technology

May 18, 2013 by Martin Crutsinger

(AP)—Federal Reserve Chairman Ben Bernanke says pessimists who are forecasting that the economy will not reap sizable benefits from the computer revolution are likely to be proven wrong.

Bernanke told a college graduating class Saturday that the long-range practical consequences of innovations such as faster computers and the Internet are hard to predict. But he said have only scratched the surface of the commercial applications that can be obtained in such fields as medicine and .

Bernanke's remarks came in a commencement address at Bard College at Simon's Rock, a small liberal arts college in Great Barrington, Mass. Bernanke's son Joel graduated from the school in 2006.

The Fed chairman did not make any comments about interest rates in his speech.

Explore further: Our brains are confused about time

Related Stories

Our brains are confused about time

January 8, 2010

(PhysOrg.com) -- A recent study published in the journal Psychological Science has found our concept of time is distorted, and we consistently underestimate how much time has passed since events in the past, condensing the ...

Stanford economist predicts 'large, short-run recession'

August 11, 2011

(PhysOrg.com) -- Last Friday's Standard & Poor's downgrade of the U.S. credit rating topped a week that saw all three major stock market indexes delivering their worst performances since the 2008-2009 financial crisis.

US Fed joins Twittersphere

March 14, 2012

The US Federal Reserve, the financial backbone of the world's biggest economy, said Wednesday it would try its hand at Twitter to improve communications with the public.

Are liberal arts colleges disappearing?

October 10, 2012

Liberal arts colleges continue redefining their historical missions or flat-out disappearing – a trend that threatens to diminish America's renowned higher education system, argues a study co-authored by a Michigan State ...

Recommended for you

Smart home heating and cooling

August 28, 2015

Smart temperature-control devices—such as thermostats that learn and adjust to pre-programmed temperatures—are poised to increase comfort and save energy in homes.

Smallest 3-D camera offers brain surgery innovation

August 28, 2015

To operate on the brain, doctors need to see fine details on a small scale. A tiny camera that could produce 3-D images from inside the brain would help surgeons see more intricacies of the tissue they are handling and lead ...

Team creates functional ultrathin solar cells

August 27, 2015

(Phys.org)—A team of researchers with Johannes Kepler University Linz in Austria has developed an ultrathin solar cell for use in lightweight and flexible applications. In their paper published in the journal Nature Materials, ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.