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Adam Posen

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Insight: Central bankers cast as superheroes with no script

It is your first day as the new U.S. Federal Reserve chief: the main interest rate is 4.50 percent, the economy is overheating and the task is to keep inflation and unemployment low.Once in a while there is a curve ball -- an oil crisis or a dollar spike -- and if you move rates up or down appropriately you will be reappointed.Central banking was never as straightforward as "Fed Chairman", an online game created by the San Francisco Fed over a decade ago for high school and college students.But playing it could make Ben Bernanke and his global counterparts long for simpler times.A 3-D shootout game would now be closer to reality as they reluctantly fill the policy void left by hamstrung governments, at risk of overreaching and experimenting with measures that may have unpredictable consequences."There was a time, not too long ago, when central banking was considered to be a rather boring and unexciting occupation," European Central Bank President Mario Draghi said this week."Some thoug...

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  1. BOE's Posen Says UK Stronger Than Data Suggest

    EDINBURGH, Scotland -- The U.K. economy appears to be performing more strongly than official data are likely to suggest, Bank of England policy maker Adam Posen said...

  2. Spanish Debt Woes Weigh on European Shares

    Fears of a resurgence in the euro zone debt crisis boosted demand for safe-haven German bonds on Wednesday, while the Bank of England and a European Central Bank off...

  3. 2 BOE Members Wanted To Boost Bond Buys In March

    The Bank of England's rate-setting Monetary Policy Committee voted 7-2 to hold its asset purchases at 325 billion pounds ($516 billion) at its policy meeting earlier...

  4. Two BOE Members Sought Bigger Feb. Rise In QE

    Two members of the Bank of England's Monetary Policy Committee -- Adam Posen and David Miles -- dissented from the panel's decision earlier this month to boost the b...

  5. UK Unions Call For Radical Reform Of Banks To Spur Lending

    The U.K. must radically reform its banking sector to give British firms greater access to lending, a report from the U.K.'s largest union group said Thursday.The Tra...

  6. BoE Unveils Fresh Stimulus, Holds Rates

    The Bank of England will spend 75 billion pounds more of newly-created money to shield Britain's economy from the euro zone debt crisis and keep a faltering recovery...

  7. Bank of England set to pump more money into economy

    By Sven Egenter and Keith WeirLONDON (Reuters) - Britain's economic prospects are deteriorating so swiftly that the Bank of England on Wednesday signaled it was on t...

  8. BoE set to pump more money into UK economy

    By Sven Egenter and Fiona ShaikhLONDON (Reuters) - The outlook for the British economy is weakening so quickly that the Bank of England on Wednesday signaled it was ...

  9. BoE minutes say chance of near-term rate rise diminished

    LONDON (Reuters) - The Bank of England's Monetary Policy Committee judged that recent economic weakness had reduced the chance that interest rates would need to rise...

  10. BoE Keeps Rates Steady, Makes no Change to QE

    The Bank of England voted to make no change to its monetary policy this month, in a widely expected decision as it waits to see how much growth next year suffers fro...

  11. Bank of England Leaves Rates at 0.5%

    The Bank of England left interest rates at 0.5% and kept its asset-buying program on hold on Thursday following signs Britain's economic recovery is not slowing as r...

  12. Bank of England Leaves Interest Rates, Easing on Hold

    The Bank of England held monetary policy steady as expected on Thursday, in a decision which may well conceal a more vigorous debate and a three-way split over how t...

  1. BoE's King: Ready to Provide More Stimulus

    The Bank of England's inflation-targeting remit needs to be fine-tuned but should not undergo fundamental change, central bank governor Mervyn King said in a wide-ra...

  2. Former Rate Setter Warns on BOE Governor's Power

    The next governor of the Bank of England will wield too much power, a former rate setter said on Tuesday, just months before reforms to expand the bank's powers in t...

  3. BoE Holds Rates, QE Steady

    The Bank of England stuck to its current policy of government bond purchases on Thursday as Britain's recession appears to be easing and hopes are running high for a...

  4. BOE's Posen Backs ECB Bond Purchases

    The European Central Bank should shore up the euro zone's weaker members by buying their bonds, said Adam Posen, an independent member of the Bank of England's Monet...

  5. Posen Urges BOE to Take Direct Action

    The Bank of England should take more action that circumvents the banking system to stimulate the U.K. economy, outgoing Monetary Policy Committee member Adam Posen s...

  6. McCafferty To Replace Posen On Bank Of England MPC

    British Chancellor of the Exchequer George Osborne on Friday said economist Ian McCafferty would replace Adam Posen on the Bank of England's nine-member Monetary Pol...

  7. BoE Keeps Rates, QE on Hold

    The Bank of England voted not to give Britain's struggling economy another cash injection on Thursday as concerns over stubbornly high inflation outweigh the risk of...

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