Jim Chalmers panics on economy, recession, and interest rates
Earlier this week, Treasurer Jim Chalmers publicly attacked the Reserve Bank of Australia (RBA), claiming that its restrictive monetary policy is “smashing the economy”.
Chalmers’ salvo came about because he knew that if the RBA doesn’t start cutting rates, Labor faces the prospect of becoming a one-term government.
On Thursday, I was interviewed by Bill McDonald at Brisbane Radio 4BC, where I discussed the latest deplorable national accounts results, alongside Chalmers’ comments.
Edited Transcript:
Bill McDonald:
The treasurer is claiming …