“ The market monetarist view is that the Fed should have offset the big drop in velocity (rise in money demand) by raising the growth of money supply.”
And also that they should not have caused part of the rise in money demand by starting to pay interest on excess reserves in late 2008
“ The market monetarist view is that the Fed should have offset the big drop in velocity (rise in money demand) by raising the growth of money supply.”
And also that they should not have caused part of the rise in money demand by starting to pay interest on excess reserves in late 2008