Opinion
Lowe should watch Powell to learn how to restore credibility
Let’s hope the RBA governor was taking notes during Friday’s masterclass in monetary strategy and communications by the US Fed Chair.
Steven HamiltonEconomistLast week, US Federal Reserve chairman Jerome Powell gave a masterclass in monetary policy strategy and communication. I hope RBA governor Philip Lowe was watching.
Alongside raising its benchmark interest rate by 0.75 percentage points, the Federal Open Market Committee amended the statement it had released after its previous meeting to include references to the “cumulative” effect of rate rises and the need to consider lags in activity.
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