Get ready for a runaway recovery?

Economist warns of new bubbles

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SAN FRANCISCO — The financial crisis is over and the economy is growing at a fast enough clip that the Federal Reserve and other policymakers have already fallen behind the curve in preventing the next asset bubble, economist Ken Rosen said today.

Rosen, the chairman of the University of California, Berkeley’s Fisher Center for Real Estate, acknowledged that most economists are still more worried about deflation than inflation.