Business
Anti-MMT Frydenberg says debt must be controlled – The Australian Financial Review
Treasurer Josh Frydenberg said Modern Monetary Theory “would break the nexus between fiscal and monetary policy”.
He said this would inevitably lead to inflation and blur the lines of independence of the Reserve Bank of Australia.
“If that was to happen it would certainly be inflationary and it would break the nexus between fiscal and monetary policy and the responsibilities that we have compared to the responsibilities that the Reserve Bank of Australia have.”
“I have also heard governor Phil Lowe talk about this in similar terms.”
Reserve Bank governor Philip Lowe’s July warning of higher taxes and pol…
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