News Proud Moment! Ex-RBI Governor Raghuram Rajan May Head US Federal Reserve

Proud Moment! Ex-RBI Governor Raghuram Rajan May Head US Federal Reserve

International financial magazine Barron’s has said that Former Reserve Bank of India (RBI) Governor Raghuram Rajan will be an ideal candidate to head the US Federal Reserve. An article was published in Barron’s magazine as it cast Rajan as the next chairman of the American central bank.

Ex-RBI Governor Raghuram Rajan To Head US Federal Reserve
Source: The Financial Express

“If sports teams can recruit the best talent from around the globe, why not central banks?”

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Current Federal Reserve Chair Janet Yellen will soon end his term and therefore US President Donald Trump is expected to announce his successor. The article stated: “Nowhere on the short list of potential candidates to lead the Federal Reserve is the current star among the world’s central bankers — someone who oversaw a sharp drop in inflation, the stabilization of a currency and a 50 percent jump in stock price.”

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It added: “Perhaps more important, his was a lonely but prescient voice warning of a financial crisis resulting from excessive risk-taking in credit derivatives-years before it hit.”

Achievements Of Raghuram Rajan

Raghuram Rajan, at the age of 40, became the youngest person to be appointed as the chief economist at the International Monetary Fund (IMF). Rajan has served as RBI’s chief from 2013 to 2016.

Raghuram Rajan Predicted 2008 Global Recession In 2005

Proud Moment! Ex-RBI Governor Raghuram Rajan May Head US Federal Reserve
Source: Livemint

Rajan successfully predicted 2008 global recession three years before it hit. Rajan also warned  Narendra Modi’s demonetisation plan late last year.

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