Treasurer Jim Chalmers has been interrogated by Sunrise’s Nat Barr over whether Australia should have gone 'harder, earlier' on inflation as the cost of living crisis continues to cripple the country.
Jim Chalmers grilled by Sunrise's Nat Barr over inflation after US Federal Reserve cuts interest rates for first time in four years
In an interview on Seven’s Sunrise on Thursday morning, Mr Chalmers was queried by Barr about whether Australia took the ''wrong approach" and should have gone “harder, earlier” as the US manages to tackle inflation. “So they’re a bit further along the track than we are,” he said, before adding Australia has in fact seen “a really substantial moderation in inflation”.
Barr continued to interrogate the Treasurer over whether Australia went “too slow” with its rates, arguing Australia was in a “technical recession”, which was refuted by Mr Chalmers. He then continued to argue Australia’s economy was growing albeit “very, very slowly”, citing various factors including “global economic uncertainty, persistent inflation but also these higher interest rates”.
“It is still more persistent than we’d like but we’re making good progress and we’ll learn more about that progress in the middle of next week.”
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