Posen claims Mervyn King too political

first_imgThursday 25 November 2010 8:31 pm Tags: NULL 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 PastMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodaySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen HeraldElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldHealthyGem”My 600-lb Life” Star Dropped 420 Pounds, See Her NowHealthyGem whatsapp More From Our Partners Inside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comConnecticut man dies after crashing Harley into live bearnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPuffer fish snaps a selfie with lucky divernypost.com whatsapp Sharecenter_img Posen claims Mervyn King too political THE Bank of England’s most senior policymakers were divided over Mervyn King’s support for the government’s austerity measures. Adam Posen, an external member of the Monetary Policy Committee (MPC), yesterday said the governor’s endorsement of the coalition’s deficit reduction programme was “excessively political”. “A number of people on the committee [thought he was being]… excessively political in the election,” he told the Treasury select committeePosen added that a handful of other members of the MPC shared his concerns. “A number of us were concerned… more than me and one other person, but less than a majority,” he said. In a press conference following the May inflation report – just days after the coalition seized power – King backed the government’s decision to make £6bn of cuts in fiscal 2010. Posen also said he objected to the wording of one paragraph in the inflation report, although the majority of the MPC did not support him. The thinly-veiled criticism of King represents a huge challenge to his authority. Chuka Umunna, a Labour member of the select committee, said that King’s role was becoming overly politicised, although he blamed this on politicians rather than the governor himself. “It is self-evident that the governor has been drawn into political matters – but it is the fault of politicians,” he said.“Nick Clegg has cited the governor’s opinions as the reason for his volte-face on economic policy, while George Osborne is relying on him to compensate for his fiscal austerity package with monetary levers,” he added. Umunna was referring to Clegg’s claim that he decided £6bn of in-year cuts were necessary after a telephone call with the governor – a claim roundly denied by King. KCS-content Show Comments ▼last_img read more