The demand that the treasurer intervene to cut rates unless governor Michele Bullock does so herself effectively sinks Jim Chalmers's chances of passing his reforms.

This seems pretty wtf.

What sort of precedent do they want to set? Whether or not you embrace neoliberal ideology political interference with monetary policy has not typically gone well, no matter what or whom you want to blame for that.

Am I missing something, or are they just going off the rails here?

  • makingStuffForFun
    8·
    2 months ago

    The official rate doesn’t matter anymore anyway. The banks are usually way above the official rate. Scavenging psychopaths.

    • Cypher@lemmy.world
      4·
      2 months ago

      And it has been proven repeatedly that mortgaged up home owners aren’t the ones spending, and that most of the inflation hike we have experienced is run-away corporate greed.