CBA TA update, page-3317

Chalmers sees it coming and wants to position himself on the right side of economic history to guarantee a solid political future in the face of an economic slump. Listen to him! He has all the data in his hands.

Australian Treasurer Warns Global Economy Is a ‘Dangerous Place’



Australian Treasurer Jim Chalmers warned on June 16 that the global economy is in a particularly dangerous and “perilous” state. He noted that recent Israel-Iran hostilities have driven oil prices sharply higher, increasing both inflation and recession risks. Chalmers emphasized that central banks including the Reserve Bank of Australia are expected to look past temporary price spikes, such as oil-driven inflation, without necessarily changing policy direction. However, he stressed that higher oil prices pose dual threats: adding strain to inflation and undermining global growth. While explaining that Australia is well-prepared to handle these global shocks, Chalmers acknowledged that the nation is not immune to broader economic volatility. He highlighted the government’s strategy of strengthening economic resilience through productivity enhancements and maintaining budget sustainability topics he’s expected to elaborate on in his upcoming National Press Club speech.