Advising the Fed

Governor should instead re-examine RBI's actions

In an opinion piece for the Financial Times newspaper that is effectively addressed at his American equivalent, Reserve Bank of India Governor Urjit Patel has argued that the United States Federal Reserve should reduce the speed by which it trims its balance sheet, in the long-overdue winding down of additional balance sheet items taken on as part of the response to the financial crisis. Mr Patel points out that the shrinkage will peak in October of this year, and by December 2019 total $1 trillion. While praising the Fed for having responded in the past to macroeconomic signals determining the