 Critics, including Nobel laureate and former chief economist at the World Bank, Joseph Stiglitz, held the IMF's policies responsible for increased economic volatility and destabilisation.While the role of the chief economist had previously always been held by a leading macroeconomist, the IMF wanted to strengthen its financial expertise.American economist Anne Krueger, then the IMF's first deputy managing director, had recently read Rajan's book "Saving Capitalism from the Capitalists", and reached out to him to understand if he would be interested.