The Nobel Prize winning economist Milton Friedman said, “ Inflation is always and
everywhere a monetary phenomenon”. If what Friedman suggested is good even
today and has no other constraints, then why high expansionary money policy
between 2007 and 2015 not result in high inflation. You can plot the graph
between money aggregates and inflation for the above period and explain the
reasons of low inflation then.The Nobel Prize winning economist Milton Friedman said, “ Inflation is always and everywhere a monetary phenomenon”. If what Friedman suggested is good even
today and has no other constraints, then why high expansionary money policy
between 2007 and 2015 not result in high inflation. You can plot the graph
between money aggregates and inflation for the above period and explain the
reasons of low inflation then.