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Speaker 1: The great crime out of Adrianaw's move is can you

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Speaker 1: trust them? And the answer appears to be known. A

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Speaker 1: central bank is supposed to get the economy. His and

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Speaker 1: his committee clearly don't get the economy. Don't get me wrong.

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Speaker 1: I mean what he did was the right thing. A

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Speaker 1: lot of people think it was the right thing. But

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Speaker 1: he is supposed to land this economy softly, and he

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Speaker 1: crashed it. And having crashed it, he still denied he

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Speaker 1: crashed it until it clearly became so bleedingly obvious. He

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Speaker 1: did what he did yesterday. The cuts that weren't coming

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Speaker 1: until next year are here now. You only do what

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Speaker 1: he did because you overcooked it in the first place.

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Speaker 1: Brad Olson of infometrics was wrong, but he was wrong

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Speaker 1: for the right reasons. He said head should roll, and

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Speaker 1: on that he's spot on. You don't run a commentary

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Speaker 1: that says one thing then do another. Oh, their defense

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Speaker 1: will be things have changed, Oh, things have changed. But

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Speaker 1: that has always been the aw weak point. He likes

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Speaker 1: to position himself as some sort of completely removed observer,

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Speaker 1: devoid of any influence on the economy at all. Oh, look,

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Speaker 1: having things come to a grinding help, how did that happen.

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Speaker 1: Last time he talked, he saw one thing and told

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Speaker 1: us how it was going to play out. He was wrong.

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Speaker 1: But the Olson point, and indeed my point, was, aren't

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Speaker 1: we supposed to believe him? When non tradable inflation is

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Speaker 1: five point four percent? Is that zero to three? No,

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Speaker 1: it isn't. When unemployment is four point six not five

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Speaker 1: point five, has that metric fallen to where it was

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Speaker 1: supposed to have? No, But that doesn't matter apparently anymore.

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Speaker 1: Forget everything I said. I've decided to cut. That's how

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Speaker 1: the governor plays us, the inescapable truth. As he cocked

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Speaker 1: it up. He tried to put it right overcorrected, pretended

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Speaker 1: he didn't until it was too late. The rhetoric didn't

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Speaker 1: match the reality, and we got to yesterday result. Well,

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Speaker 1: we'll take that quality of the journey bollocks. For more

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Speaker 1: from the Mic Asking Breakfast, listen live to news talks

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Speaker 1: that'd be from six am weekdays, or follow the podcast

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Speaker 1: on iHeartRadio