The Albanese government is laying the groundwork to blame the Reserve Bank of Australia if the economy slips into recession, with the prime minister and treasurer distancing themselves from governor Philip Lowe’s actions.
The economy will slow sharply over the next year or so, making Lowe’s narrow path to a soft landing more precarious and the prospect of a hard landing plausible.
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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
