The Phenomenon

May 28, 2021By Andrew Keefer, CFAMacro

The Big Picture “Inflation is always and everywhere a monetary phenomenon” – Milton Friedman Milton Friedman was a famed Nobel prize economist who contributed greatly to monetary theory.¬†Friedman proposed that inflation was caused by the policy decisions around the money supply. An increase in the supply of money, all else equal, generally led to inflation, … Read More