Keister, Todd; Martin, Antoine; McAndrews, James - London School of Economics and Political Science - 2008
of money to promote its economic objectives. Forexample, Milton Friedman (1959, p. 24) defined the tools ofmonetary … policy to be those “powers that enable the [FederalReserve] System to determine the total amount of money inexistence or to … alter that amount.” In fact, the very termmonetary policy suggests a central bank’s policy toward thesupply of money or the …
