Growth and inflation: Hard choices vs easy trade-offs
- Sooner rather than later, the Reserve Bank of India will have to take some hard decision
When Alan Greenspan was chairman of the US Federal Reserve, the late Alice Rivlin, vice chair of the Fed board, once said, the job of the central bank was to worry. The RBI should have been. Based on the shocking jump in July’s inflation to 7.44%, they should have been.