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+--- Thread: Election 2022 (Poll added) (/thread-5589.html)
Re: Election 2022 (Poll added) - DJC - 07-21-2022
(06-20-2022, 07:32 AM)ElwoodBlues1 link Wrote:Gentleman Jim Chalmers has decided he wants to appoint a panel of independent experts to review the Central bank(RBA)
Obviously Jim doesnt like the umpires decision on interest rates and where thats going to take the economy under his stewardship.
Not much leeway for Jim when you have a trillion dollar debt, promises to keep and Phil Lowe telling him he wants an inflation target of 2-3% with interest rates heading Nth at a rapid rate especially as we follow the USA where extensive rate rises are a given and inflation is rife.
The AFR reported that the review would consider the composition of the RBA board members, the appointment processes, the 2% to 3% inflation target and the joint statement on the conduct of monetary policy between the treasurer and governor”.
Thats code for Gentleman Jim wanting Phil Lowe and his team out and a more Government friendly/influenced team in to what economists would say massage interest rates rather than raise them.....
The thing is that the RBA board is made up exclusively by appointees from the corporate world, none of whom are experts in monetary policy. No other equivalent advanced economy central bank board lacks that core responsibility expertise and requiring it would seem to be an improvement over the current jobs for the girls and boys. There's also scope to change the mandate of the RBA so that it may consider the impact of its monetary policy on other economic issues like house prices and unemployment.
Re: Election 2022 (Poll added) - DJC - 07-21-2022
(07-21-2022, 07:04 AM)madbluboy link Wrote:Holy crap, never heard someone from the opposition say don't trust the governement before.
It was "don't trust governments" rather than the current lot.
Re: Election 2022 (Poll added) - madbluboy - 07-21-2022
(07-21-2022, 07:40 AM)DJC link Wrote:It was "don't trust governments" rather than the current lot.
He's right.