Those of us who care about Australians needlessly losing their jobs should worry that the Reserve Bank will keep monetary policy too tight for too long. A Reserve Bank determination to lift the unemployment rate to its target of 4.5 per cent, while bad enough in human terms, could easily lead to overshooting.
The RBA governor Michele Bullock is defending her position for too long. David Rowe
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Craig Emerson is managing director of Emerson Economics. He is a distinguished fellow at the ANU, director of the Australian APEC Study Centre at RMIT and adjunct professor at Victoria University’s College of Business.
