Humility is in the air. A couple of weeks ago, Reserve Bank deputy governor Andrew Hauser upset some economists and commentators when he suggested that everyone should try being less confident and more humble. Then a week later, US Federal Reserve chairman Jerome Powell repeated a similar message. “The limits of our knowledge — so...
Tag: economists
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Jobs data flashes warning Australia is ‘heading towards a recession’
There are fresh warnings that Australia’s economy is on a path toward a recession. Australians who have hit the pavement in search of a job recently might have found it tough going, as bosses preference those already on staff for new roles. “Companies are focusing, at the moment, more on their retention strategy than attraction,”...
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Inflation rises slightly in April to 3.6pc but economists say that should ring ‘alarm bells’ for RBA
In short: The annual rate of inflation ticked up to 3.6 per cent in April, from 3.5 per cent in March. Economists say multiple measures of inflation are now heading in the wrong direction. What’s next? It has raised concerns, once again, that the Reserve Bank may have to respond by lifting interest rates. The...
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‘You have to be rich to get a loan’: Big bank bosses say too much regulation is locking many Australians out of home ownership
The horror stories of consumers in financial strife that emerged during the banking royal commission more than five years ago led to stronger regulations aimed at better protecting consumers, and caps on bonuses paid to bankers. But the major banks are calling for some of these regulations to be wound back as they face tougher...