Posted by WARREN MOSLER on August 31st, 2011
He should know better by now. Must be a slow learner.
Posen Says G7 Central Banks Should Do More QE, Reuters Reports
Aug. 31 (Bloomberg) — Bank of England policy maker Adam Posen said central banks in advanced economies should undertake more quantitative easing to aid the global recovery and make it easier for governments to fix their fiscal problems, Reuters reported.
“Additional monetary stimulus is the last line of defence for the advanced economies today,” he said, according to Reuters. Previous asset purchases by the Bank of England and the Federal Reserve had a “positive significant impact.”
Posen also said advanced economies are not facing inflation dangers, Reuters reported, citing an article he wrote for the news agency.