Thursday, June 4, 2015

Raghuram Rajan should get a medal

Most economists believe that Rajan [Governer of Reserve Bank of India] needs to cut rates, but I am not sure if that is what he should do. He may do it because he is under pressure. But he should concentrate on currency stability and a moderate monetary policy. I personally think he has done a great job. He has dared to criticise the US Federal Reserve... he should get a medal for that.