ANALYSIS: One of incoming RBA governor Michele Bullock’s previous team members hits back at criticism over her lack of monetary policy experience.
The critique goes like this: Bullock’s focus on protecting the stability of the financial system during her long career at the central bank, and absence from the economics department, which advises the board on interest rates, has left a gap in her knowledge of the RBA’s most important function.Jonathan Kearns, who worked for her for five years as manager of financial stability, has heard it, and disagrees.
Challenger chief economist Jonathan Kearns says Bullock has an ability to lead, and a deep understanding of the technical aspects of her job.AFR Weekendthat she supports a charity for Indigenous people in Tamworth, which is near her childhood home of Armadale, where she went to the local high school.
One person present said Bullock handled the event deftly. In a strong, confident voice, she acknowledged the significance of becoming the most senior woman in the Reserve Bank’s history.She spoke passionately about the importance of what staff just call “the bank”, which most economic historians credit as a driving force behind Australia’s prosperity.
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