In a recent ABC News report $($April $29,2024)$ titled: $“$Why RBA's inflation fight is at odds with australian government spending$”,$ KPMG chief economist Brendan Rynne commented that the federal spending was not working in tandem with the RBA$’$s current monetary policy. It is stated in the $2024$ Australia Budget Paper No$.1$ that:

$“$While there remains considerable uncertainty around the outlook for the domestic and global economy, energy bill relief and Commonwealth Rent Assistance in this Budget are expected to directly reduce inflation by $(1)/(2)$ of a percentage point in $2024–25$ and not expected to add to broader inflationary pressures.$”($page $5)$

Jim Chalmer argues that the government spending to relieve cost of living pressure $($such as energy bill relief and rent assistance$)$ will reduce inflation. What is the reasoning behind the Treasurer$’$s argument? By examining inflation and other relevant data, critically discuss if the $2024$ federal budget is consistent with RBA$’$s current monetary policy stance.