Despite its admirable competence and proven track record, the RBI doesn't have the capacity to supervise an economy that's growing so fast and becoming larger by the year, points out T C A Srinivasa Raghavan.
The world's largest economy, which is witnessing slow expansion, is also grappling with high unemployment levels. "Reports from the 12 Federal Reserve districts suggest that economic activity continued to expand moderately from November through December," Fed's latest Beige Book said.
The apex bank also noted that manufacturing activities slowed down in certain parts of the country.
In signs that the country's growth is on track, the economic activity across the country improved in recent months, according to the US Federal Reserve.
With improvement in the housing and manufacturing sectors, the recession-hit US economy has been witnessing signs of stabilisation in recent months, the US Federal Reserve has said.
The recession-hit American economy is slowly witnessing signs of stabilisation, with significant reduction in the pace of GDP contraction and job losses. Going by the latest Beige Book from the US Federal Reserve, economic activity in most of the districts in the country have either improved or stabilised.
Fresh dollar demand from banks and importers amidst volatile equities triggered the fall
It has been a difficult year for the world's second-largest economy.
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