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Jennifer Hewett

Australia fails on inflation as US wins on growth

The IMF has reinforced America’s economic exceptionalism despite the poisonous politics on spectacular show. Australia is exceptional for another reason - its lagging performance on controlling inflation.

Jim Chalmers will have something in common with US Treasury Secretary Janet Yellen at the meetings of the International Monetary Fund in Washington this week. The voters don’t think much of the way they have managed the economy.

But Yellen has a much stronger case in defending the US record against negative community sentiment. The constant attacks from Donald Trump that a “failing” US is an economic basket case thanks to the Biden/Harris administration has even less of a basis in reality than most of his claims.

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Jennifer Hewett is the national affairs columnist. She writes a daily column on politics, business and the economy. Connect with Jennifer on Twitter. Email Jennifer at jennifer.hewett@afr.com

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    Original URL: https://www.afr.com/policy/economy/australia-fails-on-inflation-as-us-wins-on-growth-20241023-p5kkne