Hayden investigated floating the dollar a decade before Labor did it, and he cut taxes and slashed spending growth, putting Labor on a new course.
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The Reserve Bank has signalled it will keep pushing up rates until it has reigned in inflation – even if this means weaker economic growth, with income per person barely growing for years to come.
Unemployment is far lower than predicted and isn’t setting off the kind of inflation seen in the United States. There’s no telling how much lower it can go.
The Conversation’s expert panel predicts prices will rise faster than Australians’ pay can keep up in 2022 – and that’s not their only concern about the local economy.
