An interesting report came out last December from the House Standing Committee On Economics, relating to the RBA and their recent questioning of Governor Lowe.
The report was a bit of a squib in that whilst it recognised some of the issues relating to monetary policy and interest rates, they skirted round the big issues of what caused the inflation in the first place, and the role of extended credit in inflating prices.
We discuss the report and its shortcomings.
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