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Michael mckee is at the meeting and has a special guest. Michael we are here with raghuram rajan, a former central bank or of india and that at the sure university of chicago booth school. For, in 2005,s warning that policymakers were not seen the dangers of rising asset prices. Point 5000. Ver are you concerned is over 25000 and i you concerned about this . With price inflation, you have to ask why and there are support for it, growth is strong for the first time across the board. Europe is coming back very strongly. Going the way it goes, a country with a labor force declining at 1 per year. For it to grow at 1. 5 is great and the u. S. Is doing reasonably well. On the yield side, there is some optimism. The concerns are with two factors, the monetary side and the financial side. Monetary side, when do we see inflation . If you have strong growth, you have the economy that levels the unemployment not seen for a long time, when do we see Wage Inflation and that translate into goods in

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