President of the Peterson Institute for International Economics
Member, Monetary Policy Committee of the Bank of England, 2009–2012
Advisor to central banks, governments, and global investors on economic challenges
Adam Posen is President of the Peterson Institute for International Economics, the world's leading independent think tank on economics and globalization. He is one of the world's foremost experts on macroeconomic policy, resolution of financial crises, the economies of Europe, Japan, and the US, and central banking issues.
The Winter 2013 issue of The International Economy (TIE) magazine features an in-depth interview with Peterson Institute President Adam S. Posen.
From September 2009, by appointment of the UK Chancellor of the Exchequer, Dr. Posen served for three years as an external member of the Bank of England's rate-setting Monetary Policy Committee. During this critical period for the world economy, he was a prominent advocate of activist policy response to the financial crisis, successfully led the MPC into quantitative easing, brought innovative efforts to stimulate business investment to the top of the UK economic agenda, and accurately forecast global inflation developments.
Adam Posen brings a uniquely international perspective to macroeconomics: He worked in finance in Germany following reunification; wrote the definitive book on Japan's economic crisis of the 1990s and counseled the Koizumi government that subsequently turned Japan around; coauthored with Ben Bernanke a reform program for Fed policy, and currently advises the US Congressional Budget Office; and consulted for the UK Cabinet Office on the successful London G-20 summit of 2009, prior to being appointed to the MPC.
Among the most cited economists in the press, he appears frequently on Bloomberg, CNBC, BBC, and NPR programs, and his commentary is published regularly in the world's leading newspapers. In April 2012, an article in the Atlantic magazine named Dr. Posen to its international team of "superstar central bankers," and in December 2012 he was profiled in the New York Times Magazine article "God Save the British Economy."
Dr. Posen received his PhD and BA from Harvard University and is a member of the Council on Foreign Relations, of the Trilateral Commission, and of the faculty of the World Economic Forum. The author or editor of five books, he has been the recipient of major grants and research fellowships from the American Academy in Berlin, the Bank of England, the Brookings Institution, the European Commission, the Ford Foundation, the Sloan Foundation, and the US National Science Foundation.
NPR's All Things Considered Wilted Reputations Left by Shutdown and Default Threat October 17, 2013 Adam S. Posen tells NPR's John Ydstie that the ramifications from the debt ceiling debate include reputational damage that affects US leverage during international negotiations, as well as higher interest rates for borrowers, since US securities are no longer viewed as risk free.
Foreign Affairs Media Call The Nomination of Janet Yellen to Chair the Federal Reserve October 10, 2013 In a media call organized by the Council on Foreign Relations, Sebastian Mallaby moderates a conversation between Adam S. Posen and Martin S. Feldstein about the nomination of Federal Reserve Vice Chairwoman Janet Yellen to replace outgoing Federal Reserve Chair Ben Bernanke.
Bloomberg TV Posen on China, US Economies, Fed Video | September 12, 2013 While at the World Economic Forum, Adam S. Posen joins Bloomberg's Susan Li to discuss the Chinese and US economies and Federal Reserve policy.
Marketplace Public Radio Middle Class Asks: Should We Buy Our Home? Audio with transcript | August 5, 2013 Adam S. Posen discusses how home buyers may not realize that owning a home can be an unstable investment.
NPR's Morning Edition Mired In Recession, EU Eases Some Austerity Measures Audio with transcript | May 31, 2013 Adam S. Posen and Jacob Funk Kirkegaard speak with NPR's John Ydstie about how Europe's austerity programs have curbed growth and sent unemployment soaring in the euro area.
France 24 The Business Interview Video | April 22, 2013 Adam S. Posen discusses the role austerity has played in Europe's slow economic recovery on France 24's weekly segment featuring economic experts.
The International Economy Adam Posen Takes the Stage[pdf] March 2013 The Winter 2013 issue of The International Economy (TIE) magazine features an in-depth interview with Peterson Institute President Adam S. Posen.
AmericasDemocrats.org Is Austerity the Way to Go to Get Us Out of the Fiscal Crisis? Audio | March 10, 2013 As a guest on AmericasDemocrats.org's weekly netcast, Adam S. Posen explains the history of the Peterson Institute, his experience as an American at the Bank of England, and why austerity is a lose-lose proposition right now.
The Charlie Rose Show The Outlook for the US and UK Economies Video | February 12, 2013 Adam S. Posen joins Charlie Rose to discuss how to balance austerity and stimulus policies, comparing how the United States and the United Kingdom have responded to the global economic crisis.
The Washington Times G-20 Gets Chance to Reshape Banks Article | February 12, 2013 PIIE President Adam S. Posen discusses banking regulations and a global trade in services agreement, among other topics, at a Washington Times editorial board meeting.
The Wall Street Journal Abenomics Wins Over a Bank of Japan Skeptic Video | February 8, 2013 Adam S. Posen talks with Jacob Schlesinger, Tokyo bureau chief of the Wall Street Journal, about why he is hopeful that a more aggressive Bank of Japan and a measured way of getting to fiscal consolidation will end deflation and get Japan back to growth.
The Washington Post Japan Is Caught in a Stimulus Trap Op-ed | February 3, 2013 In his column, Robert Samuelson discusses the efforts by Japan's new prime minister to revive the Japanese economy, citing PIIE President Adam S. Posen's view of why Japan has struggled economically for two decades.
The Guardian British Economy Faces Threat of Lost Decade Article | January 19, 2013 With the British economy stagnating, some economists are calling on British officials to change course, but Adam S. Posen warns that the public and financial markets may not respond well to abandoning the inflation-targeting regime.
Nightly Business Review What Does Treasury Secretary Nominee Jacob Lew Bring to the Table? Video with transcript | January 10, 2013 Following the nomination of Jack Lew to be the next US Secretary of Treasury, Adam S. Posen tells Darren Gersh the next treasury secretary will have to cooperate with other countries also seeking to reign in budget deficits.
Bloomberg News Posen Says Lew's Challenges Include Global Austerity Article | January 9, 2013 Adam S. Posen tells Bloomberg News the next Secretary of Treasury will need to face international challenges, including how to deal with foreign countries' currency manipulation and the global effects of countries cutting their budgets.
The Washington Times Too Much Belt-Tightening Risky for Global Economy Article | January 9, 2013 Adam S. Posen warns that for countries such as the United States and Germany, sudden austerity could do more harm than good, as international spillovers are quite large when major economies tighten monetary policy at the same time. Jacob Funk Kirkegaard adds that the recession in the euro area was the result of the member countries all consolidating at once.
America Abroad Radio America and the European Union: A Vital Partnership Audio | January 2013 Adam S. Posen joins host Tess Vigeland and Charles Kupchan from the Council on Foreign Relations to discuss how the Obama Administration will look to strengthen America's relationship with Europe during the president's second term.
PIIE President-designate Adam S. Posen Featured in the New York Times Magazine God Save the British Economy December 19, 2012 Adam Davidson writes that Adam S. Posen has been leading the argument for macroeconomic stimulus in response to the global financial crisis and sees his new leadership of the Peterson Institute as an opportunity to continue changing the global economic policy narrative.
Bloomberg TV Posen Says US Fiscal Deal Easier than Believed Video | November 7, 2012 Adam S. Posen tells Bloomberg's Mark Crumpton that the US deficit problem is really two issues: a 2.5–3 percent gap between spending and revenues and healthcare cost containment.
Bloomberg TV Posen Says Central Banks Should Step Up Easing Video | August 31, 2012 Speaking from the Jackson Hole Summit, Adam S. Posen says the US Federal Reserve's mandate is to get unemployment to a sustainable level and to prevent inflation from getting too low or too high. Posen says quantitative easing can help the Fed do its job to lower the unemployment rate.
CNBC Worldwide Exchange Central Banks Need To Act This Month Video | August 28, 2012 Part I | Part II
Adam S. Posen says central banks in the United States, United Kingdom, and the European Union should all announce targeted stimulus packages. He explained that US Federal Reserve Chairman Ben Bernanke "should announce" more quantitative easing during the meeting at Jackson Hole. Read the transcript[pdf].
BBC HARDtalk Break-up of Eurozone 'Very Ill-Advised' Video | August 22, 2012 Adam S. Posen talks about quantitative easing, the role of central banks in countering the economic downturn, and the role of austerity measures in resolving the euro area crisis. Posen also addresses why it is in Germany's economic interest to restructure the debt of struggling euro area countries. Read the transcript[pdf].
Bloomberg News Posen Says BOE Should Go Beyond Conventional QE to Fight Slump Article | August 13, 2012 Bloomberg News writes that Adam S. Posen believes the Bank of England's Monetary Policy Committee (MPC) "does have the authority to make up its mind on what instruments it wants to use." Posen argues that the MPC should utilize options other than buying government bonds to fight the recession.
Financial Times King Urged to Widen Recovery Measures Article | August 13, 2012 Adam S. Posen tells the Financial Times that the Bank of England could more effectively stimulate an economic recovery if it were willing to purchase private sector assets. Posen stated, "I have no question in my mind that what we're doing with QE is preventing things from getting much worse, but that doesn't mean you couldn't have an additional or better instrument."
Bloomberg Osborne's Scope to Reshape Bank of England Widens on Posen Exit Article | May 20, 2012 "...Posen has done a phenomenal job.... He called the economy right and he stood his ground. You need to have brains and you need to be courageous. He's going to be difficult to replace." —Richard Barwell, an economist at the Royal Bank of Scotland Group Plc and a former Bank of England official, on Adam Posen's departure August 31, 2012, from the Bank of England.
Wall Street Journal | Real Time Economics Blog Posen: Undercapitalized Banks, Not Greece, Cause of Europe Crisis Article | May 21, 2012 "The sources of our current problem in the euro area are the various financial exposures that we all have in the interbank market that have not yet been resolved because…institutions remain insufficiently capitalized and insufficiently disciplined."
Financial Times Posen to Step Down from Bank of England Article | May 19, 2012 The Financial Times reports that Sir Mervyn King called Adam S. Posen's contribution to the Bank of England's Monetary Policy "outstanding" following the announcement that Posen will accept his appointment as president of the Peterson Institute for International Economics. The Financial Times calls the Peterson Institute "a leading US think-tank with a rare international perspective."
Wall Street Journal | Real Time Economics Blog Q&A: Lessons on Central Banking From Bank of England’s Posen Interview | May 18, 2012 Adam S. Posen shares insights gained through his experience as external member of the Bank of England's Monetary Policy Committee with the Wall Street Journal's Sudeep Reddy.
BBC The Fine Art of Squeezing: Britain vs America Article | May 4, 2012 Adam S. Posen explains that the US economy is growing faster than the UK's because of greater corporate investment and consumer spending, among other reasons, and not due to a commitment to austerity.
The Atlantic How Much Is a Good Central Banker Worth? Article | April 19, 2012 "If the United States spent $10 billion assembling a central banking fantasy lineup of Lars Svensson, Stanley Fischer, Adam Posen, and Christina Romer, it would probably be a phenomenal investment. It'd pay for itself many, many times over."