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Posen said the industry needs to be "cautious" in how it advocates for issues.
Posen admits that a strategy of restraint might encourage nuclear proliferation.
Ultimately, many policy makers will never get past page 1, where Posen defines American national security interests as the traditional sovereignty, safety, territory, and international power position.
The grand strategy of liberal hegemony, in the form described by Posen, would likely have fewer supporters today than any time since the early 1990s.
Posen depicts the current grand strategy debate as pitted between two main rivals: liberal hegemony and restraint.
Notwithstanding his embossed name on the seat backs, Posen allowed textures and materials to lead his hand.
Markets, in contrast, had been expecting quantitative easing to go on either forever or run at an even greater pace, Posen said.
The bank's Adam Posen said UK labour laws do not need changing.
Leading expressions of this view, set out before the current consensus emerged, include Bordo and Jeanne (2002); Borio and Lowe (2002); Borio and White (2003); Cecchetti, Genberg, and Wadhwani (2002); Roubini (2006); and White (2006, 2009), As argued in Posen (2009), however, the success of such a policy depends upon three empirically testable assumptions: first, that we can discern bubbles in real time from among the ongoing fluctuations in asset prices before it is too late; second, that the monetary instruments available to central banks do affect asset prices in a dependable fashion; and third, that it is worth it on net to preempt bubbles, despite the potential costs from lost output and increased volatility of doing so.
POSEn Anna - with Leo, above - will be back modelling lingerie soon
Adam Posen reiterated his call for a second bout of quantitative easing.
In the other corner, the dovish Adam Posen argues that monetary policy is too tight, and has again laid into those who think interest rates should go up.