As the US deficit continues to be financed easily, the optimists who think there is nothing to worry about are gaining ground over the pessimists who think an abrupt and costly adjustment is likely. But the optimists have to be right every day while the pessimists need to be right only once.
More Quotes from Raghuram Rajan:
I think it's feasible, very feasible to see 10 percent growth rates. I don't think 10 percent is over-optimistic.Raghuram Rajan
The worry is how long will this continue.
Raghuram Rajan
It would be fair to say the world has never had it so good.
Raghuram Rajan
A number of developments concern us. These include the excessive dependence of global demand on consumption, especially in the US, the elevated level of asset prices, particularly housing and the high and volatile price of oil. The downside risks to our forecast have thus increased.
Raghuram Rajan
Higher oil prices are a clear and present danger.
Raghuram Rajan
If the economy turns down we may have more severe credit problems.
Raghuram Rajan
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