US Fed Shouldn't Encourage More Spending With Rate Cuts: Former RBI Governor Raghuram Rajan

Former Reserve Bank of India (RBI) Governor Raghuram Rajan, has expressed concern over the potential consequences of the Federal Reserve's approach to managing the U.S. economy. With the July jobs report revealing weaker-than-expected employment figures, Rajan emphasised the importance of the Fed maintaining a cautious stance to avoid prompting excessive spending, which could destabilise the economy.

"The last thing the Fed wants is to guide the economy into yet more aggressive spending by promising rate cuts," he said while speaking to CNBC-TV18.

He pointed out that while financial conditions are not currently tight, consumers in the U.S. are already spending out of savings, a trend that the Fed should not exacerbate.

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