RBA interest rates: Jim Chalmers says there is no contradiction between government and RBA on jobless and inflation goal

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Jim Chalmers says the employment White Paper won’t contradict the RBA’s goal of cutting inflation; the general leading Ukraine’s counter-offensive says forces have made gains in the Zaporizhzhia region; moderate Republicans make last-ditch bid to avert a US government shutdown. Follow the latest here.

The US House of Representatives’ Rules Committee on Saturday voted 9-2 to tee up four appropriations bills for debate on the full House floor, the latest move in Republicans’ last-ditch bid to prevent government shutdowns after a September 30 deadline.

A short-term spending bill, known as a continuing resolution, will almost certainly be needed to avert many federal agencies from suspending operations when existing monies expire in a week. A group of far-right Republicans has fought against this, seeing it as endorsing government spending they consider too high.

“The goal is to try to move as many [bills] as possible to show the good faith effort on both sides” of the Republican caucus, Representative Marc Molinaro, a moderate freshman Republican, told reporters on Friday.

 

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Chalmers rejects RBA’s unemployment rate targetTreasurer Jim Chalmers has bowed to union pressure and rejected the Reserve Bank's technical 4.5 per cent unemployment target. The long-awaited employment white paper is set to deliver sustained and inclusive full employment. The white paper acknowledges the union's complaints, declaring everyone who wants a job should be able to find one. It comes in the wake of heavy criticism from workers' representatives after the former RBA governor Philip Lowe claimed unemployment will have to rise to bring inflation under control. September saw the RBA hold interest rates at 4.1 per cent as it continues to monitor inflation.
Source: SkyNewsAust - 🏆 7. / 78 Read more »

RBA interest rates: Jim Chalmers says there is no contradiction between government and RBA on jobless and inflation goalJim Chalmers says the employment White Paper won’t contradict the RBA’s goal of cutting inflation; the general leading Ukraine’s counter-offensive says forces have made gains in the Zaporizhzhia region; moderate Republicans make last-ditch bid to avert a US government shutdown. Follow the latest here.
Source: FinancialReview - 🏆 2. / 90 Read more »