Summers says crisis won’t hit potential growth

Larry Summers, the White House's economic adviser, has said the crisis will not affect potential growth in the United States.

"I would be very reluctant to accept the idea that the American economy no longer has the potential to grow rapidly," Summers said at a conference on Thursday, adding: "The productive potential of this economy has not declined."

The Federal Open Market Committee's longer-term forecasts are similarly positive, indicating that officials still expect growth to recover to bet

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