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Posen: We need QE to start again

first_imgTuesday 28 September 2010 11:37 pm Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp Posen: We need QE to start again QUANTITATIVE EASING (QE) must be restarted if Britain is to avoid persistent high unemployment and economic stagnation, Bank of England Monetary Policy Committee (MPC) member Adam Posen said yesterday.In a speech delivered in Hull yesterday, Posen was the first MPC member to call explicitly for a second round of QE. His comments put him on a collision course with fellow policymaker Andrew Sentance, who has been calling for higher interest rates since June. Posen argued: “It is right for both long-term stability and short-term performance for central banks to do more now.”He warned that policymakers’ misplaced fears of inflation should not lead them to settle for weak growth: “The risks that I believe we face now are the far more serious ones of sustained low growth turning into a self-fulfilling prophecy, and/or inducing a political reaction that could undermine our long-run stability and prosperity.”Posen has not yet voted for further monetary loosening and said that his vote at the next meeting was not a foregone conclusion. “Although we find Mr Posen’s analysis sobering and plausible, we believe it will take further downside news on the economy if a majority of MPC members is to support a QE extension,” said Barclays Capital’s Simon Hayes. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBePeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople Todaymoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Show Comments ▼center_img KCS-content whatsapp Share Tags: NULL last_img read more