Apparently the release of the review of the RBA will be released today.
I see nothing to argue about in the recommendations, well I prefer monthly meetings to 6 weekly meetings.
The only thing the treasurer has to do is appoint a new head of the RBA. for my money Lowe should go. his comments about interest rates and when they might rise was irresponsible. I would appoint the current statistician David Gruen in his place/ He has worked in both Treasury and the RBA and as you might expect with a person with both a Phd in physics and economics a formidable intellect. I was lucky yo have lunch with Glenn Stevens and him a long time ago.
Whom ever gets the gig could do a lot worse than examine Bernie Fraser's reign. He encouraged his young brilliant ones under him to use the intellectual gifts to the greatest extent. He introduced the inflation target after everyone examined what is should be and the pluses and minuses. Indeed Fraser could well go down as the best public servant we have seen. Treasury thrived under him as well.
Let us hope Jim Chalmers makes some wise decisions.
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