Former RBI Chief Rajan Calls for Fed Rate Increases to Combat Inflation
Source Summary
Raghuram Rajan, former Reserve Bank of India Governor and member of a US Federal Reserve task force, stated that the Fed should raise interest rates to address accelerating inflation. Rajan argued that current financial conditions are not sufficiently restrictive. He made these remarks during an appearance on Bloomberg's Insight from Jackson Hole, Wyoming.
Why it matters
Rajan's position on the Fed task force gives his views on monetary policy direct relevance to US central bank decision-making on inflation control.
