I have to admit that the bulk of my remarks will be somewhat out of step with the theme of the Economic Outlook Seminar, as I provide a look back at Federal Reserve decision-making over the past few years.
*  *  *  The views expressed are those of the author and not of the Reserve Bank of India. 1. As is invariably the case with any major crisis, the ongoing global financial and economic crisis, including lately, of course, the eurozone crisis, have unleashed a passionate debate over the design of a new architecture of finance, capitalism and globalization.