Monetary Policy

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  • The control or regulation of a nation's money supply by its monetary authorities. This function is normally delegated to the central bank of a nation. In some countries, monetary policy is not made independently by experts or professionals: There is pervasive interference by central governments to influence monetary policy through the printing of money to raise revenue (seigniorage) when collecting taxes and borrowing money become less viable. The result is usually an increase in the general price level (inflation), which causes economic instability as a result of inflation tax, flight capital, and the “original sin” (the inability of nations to borrow in their own currencies in financial markets).

    In the United States, the Federal Reserve (Fed) makes monetary policy with a considerable amount of independence, so ...

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