During the Great Depression, the Federal Reserve feared the onset of excessive inflation and thus decided to respond by constricting the money supply. This action is the monetary policy equivalent of trying to drive up a hill by slamming on the break...
Tag: Great Depression
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During the Great Depression, the Federal Reserve feared the onset of excessive inflation and thus decided to respond by constricting the money supply. This action is the monetary policy equivalent of trying to drive up a hill by slamming on the break...