China has begun internationalizing the renminbi, raising the possibility that China may soon become a major supplier of the world's reserve currency. In this series of CGS-IIGG working papers, experts consider what the consequences of this process might be for both China and the global financial system.
In the forthcoming issue of International Finance, edited by CFR's Benn Steil, Bank of England Monetary Policy Committee member Adam Posen argues that central banks must be careful not to set monetary policy on the basis of unwarranted fears of rising inflation expectations.
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Experts
Sebastian MallabyCGS Director, Paul A. Volcker Senior Fellow for Int'l Economics