What’s likely to happen if Reserve Bank governor Raghuram Rajan bumps into former hedge fund manager Martin Shkreli? Even though chances are remote, there’s no harm fantasizing: Shkreli would probably be at the receiving end of some very sophisticated obloquy from Rajan.
Governor Raghuram Rajan has had some practice at raising hackles. He discomfited economists and smug central bankers at Jackson Hole by pointing to their manifest policy nakedness. His refusal to acquiesce has exasperated impatient government officials in Delhi. He has lectured on the need for tolerance in society.