The RBA is doing its job, so don’t shoot the messenger

Treasurer Jim Chalmers stated the RBA is 'smashing the economy'.

People love to hate the RBA at the moment. Along with unnecessarily high energy and grocery bills, mortgage repayments are ruining our prosperity. There’s no reason for this other than the Albanese government spending other people’s money. Meanwhile, the RBA is the adult in the room.

So, I am surprised that many conservatives are jumping on the RBA-hating bandwagon. This is all Labor’s fault.

Alexandra Marshall wrote in the Unfiltered newsletter:

And look, Michael de Percy said that we must not shoot the messenger about the state of our economy. Yes, the comments made by the RBA did sound a bit like the WEF muttering in front of a microphone, but the RBA doesn’t have a lot to work with.

Terry Barnes wrote in the Morning Double Shot newsletter:

Michael de Percy takes aim at the stoush of the Treasurer, Jim Chalmers, has started with the Reserve Bank governor he appointed, Michele Bullock. M de P points out the Governor essentially has one job: to do her utmost to keep inflation under control and the economy growing. Like it or not, Bullock is doing that job, in accordance with the Reserve Bank’s statutory charter. But as her prescription is fiscally responsible yet no vote-winner, what does Chalmers do? That’s right, he tips a bucket of the proverbial over the head of his own appointee. Not a gallant way to treat a lady, even if she has the hide of a rhinoceros and the stubbornness of, er, a bullock.

And in The Best of Flat White, Alexandra Marshall wrote:

Also this week, the RBA did not cover themselves in love or adoration by reminding the borderline poor that they might have to make a few more sacrifices – such as selling their homes. Michael de Percy has pointed out that the RBA is doing their job but someone is to blame, is it the Treasurer? The one thing we know for sure is that Australians have woken up to the fact that this is a rich and prosperous country. Someone is getting all the money, and it is not the voting public.

My latest in The Spectator Australia, The RBA is doing its job, so don’t shoot the messenger.