Raghuram Rajan Quote

Raghuram Govind Rajan (born 3 February 1963) is an Indian economist and the Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago's Booth School of Business. He served as the Chief Economist of the International Monetary Fund from 2003 to 2006 and the 23rd Governor of the Reserve Bank of India from 2013 to 2016. In 2015, during his tenure at the RBI, he became the Vice-Chairman of the Bank for International Settlements.
At the 2005 Federal Reserve annual Jackson Hole conference, three years before the 2008 financial crisis, Rajan warned about the growing risks in the financial system, that a financial crisis could be in the offing, and proposed policies that would reduce such risks. Former U.S. Treasury Secretary Lawrence Summers called the warnings "misguided" and Rajan himself a "luddite". However, after the 2008 financial crisis, Rajan's views came to be seen as prescient, and he was extensively interviewed for the Academy Awards-winning documentary Inside Job (2010).
In 2003, Rajan received the inaugural Fischer Black Prize, given every two years by the American Finance Association to the financial economist younger than 40 who has made the most significant contribution to the theory and practice of finance. His book, Fault Lines: How Hidden Fractures Still Threaten the World Economy, won the Financial Times/Goldman Sachs Business Book of the Year award in 2010. In 2016, he was named by Time in its list of the '100 Most Influential People in the World'.