Monetary Policy

In this section we will examine how the legislature sets the tone for monetary policy throughout the banking system.

Although the artificial manipulation of the money supply resides in the banking system (the Federal Reserve and commercial banks) monetary policy still remains the responsibility of federal government legislators.

Monetary policy all over the world has followed the advice of the stabilizers.

It is high time that their influence, which has already done harm enough, should be overthrown.

F. A. Hayek, 1932

Monetary Intervention

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