raghuram: it is doing what it can.mmodative as possible given the fact that inflation has not really come down and was starting to look up. so, i think the reserve bank has been as accommodative as possible. it has helped finance the government deficit, much like other central banks across the world. it has also built up a fairly large foreign-exchange reserve position which has come in good stead, as there are some doubts about the indian economy going forward. this will at least be a measure of comfort for foreign investors. kathleen: if i ask you, gee, how does the global recovery look to you? first of all, obviously some countries are truly in recovery. the u.s. on an economic boom on many fronts. others are still in the hole. is the global economy in recovery? and the disparities are so big, how do you think about it? how do you measure it? raghuram: it is going to be a very disparate recovery. the u.s., norma's amount of money has gone into supporting households and businesses. so much so as you saw on the first