We Still Need Milton Friedman

Source: American Institute for Economic Research
by Alexander William Salter

“‘Milton Friedman isn’t running the show anymore,’ President Biden memorably scoffed on the campaign trail in April 2020. More’s the pity. With inflation raging, financial markets in turmoil, and production slowing down, we could use a healthy dose of Friedman’s wisdom. Monetary policy especially needs a reset. The way we think about the Federal Reserve’s mission is all wrong. We can start to put things right by reacquainting ourselves with the 20th century’s greatest diagnostician of monetary maladies.” (06/13/22)