Bernanke on monetary aggregates & monetary policy

In the speech 'Monetary aggregates and monetary policy at the Federal Reserve: A historical perspective' given on 10 November Ben Bernanke of the Federal Reserve said the Fed will continue to monitor and analyse money growth even though the relationship between money and inflation has often been unstable.

"Although a heavy reliance on monetary aggregates as a guide to policy would seem to be unwise in the US context, money growth may still contain important information about future economic

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