RBA appoints Michele Bullock as new governor amidst inflation fight and economic uncertainty

Bullock is an internal RBA candidate reflecting the government's desire for continuity but some wanted more radical change.
Bullock says unemployment must rise to bring down inflation, sparking criticism from unions though economists say remarks are uncontroversial.
RBA strategy won't ease fiscal and social distress from interest rate hikes that are damaging mortgage holders.
Lessons for Labor government are importance of luck, clear communication and having a scapegoat amid economic woes.
Government may benefit from economic luck and either make reforms quietly or push them at the right political moment.