RBA governor thinks massive bank profits are good while he wants unemployment to rise — Bill Mitchell

Summary:
It’s Wednesday and a lot is going on. The RBA governor appeared before the Commonwealth Senate Estimates Committee today and demonstrated what a troglodyte he is, defending massive bank profits and deliberately trying to cause unemployment. Meanwhile, US data shows that inflation has peaked and is now falling. The pace of the deceleration is picking up. Meanwhile – MMTed – is active and our 4-week course began today (see details below) and we are helping a new radio show to launch next week – Radio MMT. And we cannot go a Wednesday without some great music. All in a day....William Mitchell — Modern Monetary TheoryRBA governor thinks massive bank profits are good while he wants unemployment to riseBill Mitchell | Professor in Economics and Director of the Centre of Full Employment and

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