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MPC appoints US macro-economic expert

The Bank of England has appointed US political macro-economist Dr Adam Posen to the Monetary Policy Committee.

Posen will succeed Tim Besley as an external member on the MPC from September 1.

The Chancellor Alistair Darling says: “I am delighted that Adam Posen has agreed to join the MPC. Dr. Posen has extensive experience analysing central banking policy issues in the UK, the US, Japan and across the EU.

“His deep understanding of monetary policy and financial system issues, combined with his proven ability to communicate clearly to diverse audiences will, I believe, be extremely valuable to the MPC.”

Dr Posen is deputy director and senior fellow at the Peterson Institute for International Economics in Washington D.C. He also sits of the US Congressional Budget Office’s Panel of Economic Advisers and is a director of the Brussels European Global Economic Laboratory.

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