Posen: Pound's Fall Is Bigger Than What BOE Can Do

The video discusses the long-term economic trends in the UK, focusing on the decline of Sterling and its implications for British competitiveness and inflation. It examines the historical context of the UK's economic challenges and the potential future impact. The discussion also covers the role of the Bank of England, central bank independence, and the concept of contagion in global markets.

What are the potential short-term and long-term effects of a dropping pound on the economy?

How does the speaker view the independence of the Bank of England in light of current economic challenges?