Adam Posen News
Wall Street Sinks to Lowest Level in 12 Years
Traders Panic and Dow Falls 250 Points as Fears of Bank Nationalization Mount
"Who Needs an Opposition Party?"
Quotes of today: "One way to look at the Manny Ramirez bust is that it will be a whole lot easier to get a hotel room in the Cooperstown area during the Hall of Fame inductions in the next generation....
U.S. may face years of sluggish economic growth
At an Aug. 7, 2007, meeting of the Federal Reserve's policymaking committee, staff economists identified disturbing signs that the economy's growth potential was downshifting to a lower gear. American workers and factories hadn't been as productive in recent years as initially believed, a
Global economic stimulus plans not as strong as USA's
Better than nothing. Not enough. All we're likely to get. With the $790 billion U.S. economic stimulus package likely to be approved Friday, that's the verdict on similar efforts around the globe. So far, only China and the U.S. have introduced major new spending programs to compensate for
World Bank economist urges new 'Marshall Plan'
The World Bank's chief economist on Monday called for $2 trillion in economic stimulus projects in low-income countries to be funded by loans from the United States and cash-rich countries such as China and the Middle Eastern oil producers. Justin Lin, the first Chinese official to serve as the
EU countries to bolster banks
Governments in the 15-nation eurozone agreed Sunday to use public funds to replenish depleted banking coffers and to guarantee bank refinancing, moves aimed at unclogging blocked credit channels and easing the global financial crisis. Individual countries, beginning with France, Germany and Italy,
U.S. calls global meeting on financial crisis
The U.S. and other nations fought on multiple fronts Wednesday to contain a deepening financial crisis before it triggers a global recession. Underscoring a dramatic shift in global financial influence toward rising powers, Treasury Secretary Henry Paulson called for a special meeting of the Group
U.S. can learn from Japan's deflated economy in the 1990s
Then, as now, asset values rose to stratospheric heights. Then, as now, the bubble eventually popped. And then, as now, people initially believed the economy would soon regain its bearings. But in post-bubble Japan, the economy didn't recover as expected. Instead, it stagnated — year after painful