- US must accept stronger USD as Fed normalizes
- Fed needs to start normalizing at some point
Reserve Bank of India gov on the wires
- RBI not looking at specific budget deficit number
- monetary policy is relatively ineffective direct stimulus
- excess capacity and project obstacles in India impede growth
- focussed on reducing rupee volatility
- not trying to protect any level
- corporates are hedging fx at levels ” less than we would want”
RBI gov Rajan – anyone for roulette?
