Australia Says Global Chaos a Result of US’s ‘Bad Decisions’
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Australian Treasurer Jim Chalmers has blamed “bad decisions” on tariffs for stock markets tumbling around the world, even as his department forecasts only minor impacts on domestic economic growth and inflation.
Speaking in Sydney on Monday, Chalmers said markets now expect the Reserve Bank to cut interest rates more quickly in response to the uncertainty created by President Donald Trump’s tariffs. The treasurer said he earlier spoke with RBA Governor Michele Bullock ahead of the opening of the stock market to “compare notes” on their expectations for the economic fallout from the tariffs.