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Michael Stutchbury

Chalmers dumps his fiscal profligacy onto the RBA

The government has its foot on the spending pedal while the Reserve Bank tries standing on the brakes. There is no sign of the co-ordination that has been called for.

One thing about Michele Bullock, recall Reserve Bank old-timers who have followed her four-decade central bank career, is that she can be stubborn. In the good sense of sticking to her guns.

She will need to in the face of the political sniper fire, including from Jim Chalmers’ mentor Wayne Swan, that the RBA is “putting economic dogma over rational decision-making”.

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Michael Stutchbury is editor-at-large. He is in his fourth decade of writing for and editing national newspapers. After nearly six years as editor of The Australian, he returned to the Financial Review as editor-in-chief (2011-2024). Email Michael at mstutchbury@afr.com

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    Original URL: https://www.afr.com/policy/economy/chalmers-dumps-his-fiscal-profligacy-onto-the-rba-20240911-p5k9m6