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Jonathan Kearns

We need to prepare in good times for the next big shock. These are the good times

The nation can weather financial shocks if it puts something aside in the good years. But we are not doing so.

Jonathan KearnsEconomist
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The initial noise from the federal budget has quietened down, but unfortunately the distant rumble is the sound of the debt truck warming up given deficits are projected for years to come.

While monetary policy takes the lead in managing the economic cycle, large-scale fiscal stimulus has been needed when we’ve been hit by large shocks.

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Jonathan Kearns is chief economist at Challenger. He previously held senior roles at the Reserve Bank of Australia including head of financial stability and head of the economic analysis and economic research department.

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    Original URL: https://www.afr.com/policy/economy/australia-must-be-ready-now-to-fix-its-financial-buffers-20240519-p5jeur