Prognosis
India Crisis Reveals Complacency and Lack of Foresight, Rajan Says
- Former RBI chief says central bank ‘accommodative as possible’
- U.S. Fed may ‘rethink’ policies, which could surprise markets
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India’s overwhelming surge of coronavirus infections has revealed complacency after last year’s first wave, as well as a “lack of foresight, a lack of leadership,” according to Raghuram Rajan, former governor of the country’s central bank.
“If you were careful, if you were cautious, you had to recognize that it wasn’t done yet,” Rajan said Tuesday in a Bloomberg Television interview with Kathleen Hays. “Anybody paying attention to what was happening in the rest of the world, in Brazil for example, should have recognized the virus does come back and potentially in more virulent forms.”