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The Federal Reserve says it can manipulate the money supply to ensure “price stability.” This worsens the boom-bust cycles and undermines the economy.
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The Federal Reserve says it can manipulate the money supply to ensure “price stability.” This worsens the boom-bust cycles and undermines the economy.
One of the unfortunate legacies of Monetarism is the belief that the Federal Reserve can manipulate the money supply to ensure “price stability.” Such...