Regulators get to work destroying Frydenberg

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Only in the job a few days and already being destroyed by Australia’s useless policy executive, via the AFR:

Treasurer Josh Frydenberg has emerged from briefings with the nation’s key economic regulators satisfied that the slowing of the housing market on the east coast is orderly and that an expected tightening of the labour market could help end flat wages growth.

…He said he was assured by Dr Lowe the economy was moving in the right direction with momentum being generated by strong infrastructure spending and business investment while above-average consumer confidence was driving consumption.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.