The Federal Reserve Bill - The Average Growth in the Money Supply

In your 19 years as chairman of the federal reserve bill, the average growth in the money supply was three point one % per year. Since you left, the money supplys exactly doubled. The inflation ratis averaged over seven %. Now we have tried to preserve a monitory stability by just trying to follow this prescription of profes readmen,. namely, monetary discipline and keeping monetary grows relatively moderate. I must, however, warn you, it's not so easy as it looks. If you just, if you just say governments have to have the courage to persist in that.