The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Tuesday, May 1, 2012

Fraser confirms he opposed RBA's Statement on Conduct of Monetary Policy

I've written about this extensively before, but Fairfax's Peter Martin adds valuable new light on the debate surrounding the RBA's approach to inflation-targeting in the context of the original RBA legislation drafted way back in 1959. As I have previously recorded here, Bernie opposed both the signing of the Statement by the Governor of the RBA (he believes it should be signed by the Board)--a technical nuance--and the subordination of the employment and growth goals to an explicit inflation-target, which was never part of the RBA's founding 1959 Act. Read my previous discussions of these issues here and here.