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  4. Milton Friedman
  5. When they so-called target the interest rate, what theyre...

When they so-called 'target the interest rate', what they're doing is controlling the money supply via the interest rate. The interest rate is only an intermediary instrument.

Milton Friedman
Target, Instruments, Interest
When they so-called 'target the interest rate', what they're doing is controlling the money supply via the interest rate. The interest rate is only an intermediary instrument.