Peterson Institute names Posen as head

The Peterson Institute for International Economics on Friday named Adam Posen to succeed Fred Bergsten as its president.

Posen, 45, currently serves as an adviser to the Bank of England, where he has advocated credit easing to boost economic growth. He has collaborated closely with Federal Reserve Chairman Ben Bernanke in the past and, like Bernanke, is viewed as dovish on monetary policy, preferring stimulus more than other central bankers.

Under Bergsten's leadership, the Peterson Institute has become a major force in economic policymaking in Washington, and Posen's new post can be expected to give his ideas greater prominence. Bergsten's specialty was currency policy and he became a leading voice for forcing China to revalue its currency to give U.S. exporters a greater shot at succeeding in China.