“The Fed hiked rates again by 75 basis points. It will hurt growth. The question is what more can the RBI do? Frankly not very much and that means pain for all of us. The government can help up to a point but things like subsidies, etc, come back to haunt you later. So the RBI must share some of the blame, if not all of it and that is what I think is going to be missing in the letter.”
