October 20, 2025· 41 min

Raghuram Rajan on Surging Gold and Growing Risks to Financial Stability

Raghuram Rajan

Orality

Model

59%

Mixed oral/literate (blogs, casual essays)

Speaker Breakdown

HostTracy Alloway(1,049 words)

M:29%

HostJoe Weisenthal(591 words)

M:29%

GuestRaghuram Rajan(5,036 words)

M:28%

Oral Indicators

Agonistic22%

literally, completely, clearly

Engagement58%

you, our, your

Memory Aids100%

listen, now, right

Repetition100%

your (63x), it's (62x), about (51x)

Parallelism57%

And I'm Tracy Alloway...., And he is exactly the person y..., And we bring it up in the conv...

Sound Patterns84%

73 question(s), alliteration: "markets move", alliteration: "barclays brief"

Formulaic Phrases7%

you know what, i mean, the bottom line

Literate Indicators

Hedging10%

may, seemingly, probably

Passive Voice7%

being sequestered, be modeled, be weaponized

Abstract Nouns24%

investment, recommendation, business

Subordination6%

because, while, therefore

Sentence Length32%

Avg: 13.0 words/sentence

Word Complexity49%

investment, analyze, anticipate

Academic Markers3%

according to

Impersonal Style42%

501 personal pronouns found

Descriptive Style78%

literally, completely, apply

Description

Gold has been surging. Risky assets (with a few minor hiccups) have also been surging. And yet, central bankers (most notably the Fed) are in rate cutting mode. Why is this? And what kind of risks are being conjured up? On this episode of the podcast, we speak with Raghuram Rajan, a professor at the Booth School of Business at the University of Chicago, as well as the former Governor of the Reserve Bank of India. Rajan famously was one of the first to raise alarms prior to the Great Financial Crisis in 2008. We discuss why financial markets are doing what they're doing and whether central bankers are sufficiently attuned to the growing risks. Read more: Gold Holds Drop as Traders Focus on US-China Trade, Credit Woes AI Stocks Are in a Bubble, Most Investors Say in BofA Survey Only Bloomberg - Business News, Stock Markets, Finance, Breaking & World News subscribers can get the Odd Lots newsletter in their inbox each week, plus unlimited access to the site and app. Subscribe at bloomberg.com/subscriptions/oddlots See omnystudio.com/listener for privacy information.

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