Federal Reserve Chairman Ben S. Bernanke will leave behind an economy poised to record its biggest advance in almost a decade when he makes his anticipated departure from the central bank early next year.
Growth will accelerate to 3 percent or more in 2014 after averaging an annualized 2.1 percent during the first four years of the recovery, according to projections by forecasting firms Moody’s Analytics Inc. and Macroeconomic Advisers in St. Louis. That would be the fastest rate of expansion since at least 2005, the year before Bernanke became central bank chief.
He has “navigated the economy and the financial system through one of the darkest periods,” said Mark Zandi, chief economist for Moody’s in West Chester, Pennsylvania. “Now we’re starting to see some sunshine breaking through.”