We are taking a greater chance of having another crash at a time when the world is less capable of bearing the cost.
Raghuram RajanLet us remember that postponement of tapering is only that-a postponementLet's not lose the chance, the warning that we have been given, because this is going to come back and what we need to do is put our house in order before.
Raghuram RajanWhen you start cutting government expenditure, at some point you are cutting essential services rather than excessive services. So you have to take into account the social costs involved in cutting government spending.
Raghuram Rajan