All power to big Bill. He made a cracking call. I guess history will judge whether it really was the right one. Right now he is looking pretty fancy. From the AFR today:
Evans says that what he came to realise sooner than the RBA was that the so-called “trickle-down” effect of mineral wealth was being disrupted by one key phenomenon – households were saving, rather than spending, any extra money. He argues that the mining boom narrative was allowed to dominate monetary policy setting within the RBA, missing key nuances
