MSM rolls up for Treasury versus RBA circus

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A new distraction is upon Australian macro management. It’s the Recessionberg versus Lunatic RBA circus. There’s lots of stories on it but the AFR captures the big yawn:

Economist Richard Holden says the tension between fiscal and monetary policy is “Australia’s big economic dilemma”.

…“Monetary policy cannot deliver medium-term growth,” Lowe told central bankers at a conference in the United States late last month. “We risk just pushing up asset prices.”

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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.