Ex-Indian central bank chief warns rapid rate moves could fuel 'wealth shock' that scares consumers
Former Indian Central Bank Governor Raghuram Rajan highlighted the tightrope that policymakers have to walk with monetary stimulus, warning that one false move may lead to a global "wealth shock" that could scare consumers.
. It said last week that bond purchases would start to taper "later this month" and acknowledged that price increases had been more rapid and enduring than central bankers had forecast. "One of the problems of course ... if the central banks move too fast, markets adjust too quickly then you've got a huge wealth shock in the economy and that frightens consumers and so on, and you can precipitate the recession that you didn't want in the first place," he told CNBC's Julianna Tatelbaum on Wednesday from the UBS Euro Conference.
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