Posen, an expert in international macroeconomic policy, monetary policy and economic forecasting, was selected unanimously out of an initial pool of 38 candidates in a Peterson Institute board meeting Friday.
Posen has been a Peterson senior fellow since 1997 and has served as deputy director of the institute from 2007 to 2009, during which period he is credited with expanded outreach initiatives to the media and the general public, including the creation of an in-house media center and established relationships with a growing range of foundations and corporate supporters. He has also served concurrently as an external member of the Monetary Policy Committee of the Bank of England since 2009.
“Adam has attained worldwide recognition as a leading policymaker due to his very influential role at the Bank of England over the past three years,” said Peter G. Peterson, founding and current chairman of the board of directors of the institute, in a statement.
“Our mission is more important than ever: to provide the objective relevant research enabling us to advise and challenge policymakers on how best to make globalization beneficial and sustainable,” said Posen.
Before joining the Peterson Institute, Posen served as an economist at the Federal Reserve Bank of New York, where he was co-author with Ben Bernanke and colleagues of the globally influential study Inflation Targeting.
Posen succeeds founding director C. Fred Bergsten, who announced in January he would be stepping down after 30 years of service. Bergsten will focus on his own research as a senior fellow and president emeritus at the institute.
Posen begins his post Jan. 1, 2013.