Jim Chalmers wants a truly independent RBA. He should be careful what he wishes for

The treasurer says he is on board with all of the recommendations of the independent review of the Reserve Bank.

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The ConversationThe Conversation
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https://theconversation.com/jim-chalmers-wants-a-truly-independent-rba-he-should-be-careful-what-he-wishes-for-204550https://theconversation.com/jim-chalmers-wants-a-truly-independent-rba-he-should-be-careful-what-he-wishes-for-204550
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Wednesday, May 3, 2023
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House, Review, Treasury, Unemployment, Commonwealth Bank, Chifley, Depression, Farmer, Labour Party, Policy, Bank, Gibson, Reserve Bank of Australia, Federal Executive Council (Australia), Chalmers, Wall Street, Federal, Attitude, Australian constitutional law, Government, Shadow banking system, Royal commission, Representative, Reserve Bank, Budget, Great Depression, Wool, Commonwealth, Labour, RBA, Financial adviser, Hunting
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LONDON, AUSTRALIA
Summary
Key Points: 
  • The treasurer says he is on board with all of the recommendations of the independent review of the Reserve Bank.
  • One of them – the first – is to make the bank truly independent of the government that owns it by removing the treasurer’s power overrule its board.
  • One day, Chalmers or his successors might wish they had it.
  • Read more: RBA revolution: how Chalmers will recraft the bank for the 21st century
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