Pandemic lockdowns and over-stimulus were responsible for inflation and cost-of-living pressures, so Australia must learn from what policymakers did right and wrong.
Amid community complaints about high inflation and cost-of-living pressures, not many punters have realised that lockdowns and over-stimulus during the pandemic are directly responsible.
Federal and state governments spent more than $400 billion extra combined during the pandemic to offset economically and socially destructive lockdowns.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
