He accepts that a “big disappointment” has been the absence of recovery in the past 18 months. “My decision to stop voting for more stimulus was a reflection of my being humble in the face of data, ” he says. ” I am sorry I was wrong: not because it meant I was temporarily wrong on a call -that happens- but because if I had been right, it would have meant the recovery was better .”
Good luck Mr. Posen , got to like a gentleman who admits he was wrong .
