Listen to Powell’s Advice in Jackson Hole
Monday, 5 September 2022
President Jokowi should accept the situation by not forcing more policies to boost economic growth. An important message from the Federal Reserve Chair Jerome Powell deserves consideration.
PRESIDENT Joko Widodo finally gives up. The government cannot add a budget anymore to subsidize fuel. Fuel subsidies have increased drastically due to persistently high global oil prices. Besides that, domestic fuel consumption had risen rapidly after the Covid-19 pandemic ended. It has eaten up too much of the government budget. If it insists on pouring more fuel subsidies, the government risks running out of money. Thus, the prices of various
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