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."

Monday, January 31, 2011

What is the Treasurer really saying about the RBA Board???

My view: give Ross Garnaut the gig for McGauchie (thereby significantly boosting the Board's economic firepower) and reappoint the recalcitrant, Warwick McKibbin, even though you do not really want to. The fact is McKibbin is totally apolitical. He says what he thinks, even if that does not always suit you. Here is what Wayne Swan said on 4BC today:

"KING: And just before you go Reserve Bank Board member Warwick McKibbin has challenged you to reappoint him. I think his term expires in July. He’s criticised the flood levy. Is there intention to give him another go?

TREASURER: Well, I don't speculate about our Reserve Bank Board appointments process, but I just make a couple of points. The fact is that we need a degree of continuity on the one hand on the Board and of course we need new blood. I think McKibbin has served two terms, that’s a pretty long stint on the Reserve Bank Board. The Government hasn't taken a final decision about board membership as we go forward and we’ll come to that decision by picking the best person that’s available.

KING: By saying there is a place for new blood are you indicating there that two terms is a sufficient term to serve?

TREASURER: Well, I’m not indicating that at all but I think it’s just common sense in the case of a very important body like the Reserve Bank Board that it has a degree of continuity but also from time to time will need some new blood."