Adam Posen is deputy director of the Peterson Institute for International Economics in Washington, DC, where he has been a senior fellow since 1997. His research focuses on macroeconomic policy and performance, European and Japanese political economy, and central banking issues. A widely cited expert on monetary policy, he has been a visiting scholar at central banks worldwide including on multiple occasions at the Federal Reserve Board, the European Central Bank, and the Deutsche Bundesbank. He has been the Houblon-Norman Senior Fellow at the Bank of England. He has also been a consultant to