House passes bill that would give Trump administration broad power to kill nonprofits 
Philip Lowe has congratulated Michele Bullock on taking over the reins of the Reserve Bank, saying it’s in very good hands to deal with the inflation challenge. Mr Lowe’s term as governor hasn’t been without controversy. He attracted unprecedent criticism for a raft of decisions, including misleading Australians about how quickly interest rates would rise. But former RBA executive Jonathan Kearns says Mr Lowe leaves an “amazing legacy” and he was subject to unfair attention by the media. He says he doesn’t expect a big shift in the bank’s approach under the new governor.
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