As Milton Friedman Did, Trump Mistakes the Power of the Fed

Thoroughgoing Keynesian Ben Bernanke once quipped to Milton Friedman (1912-2006), “You’re right, we did it. We’re very sorry.” What did they or “we” do? According to Friedman, the Fed failed to increased the so-called “money supply” in the 1930s, thus the economic downturn…

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