Milton Friedman, Academy Class of 1971, Full Interview
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Channel: Academy of Achievement
Views: 441,648
Rating: 4.8604383 out of 5
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Length: 135min 37sec (8137 seconds)
Published: Thu Feb 09 2017
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Milton Friedman was a Time traveller from 2030
Danny Devito
So in the video he says that "the fed cant determine interest rates but it can have an impact on interest rate, yet it can determine the supply of money." So how does this work?
My understanding is that USD is debt to banks. The USD supply increases when banks loan out money. The fed can set the fed funds rate, which makes it cheaper for banks to lend out money and thus the fed can indirectly increase the amount of loans. Since loans are USD, it follows that the fed can increase the supply of money. Banks of course compete to set interest rates on these loans.
Do I have that right?
Guys like Richard Warner say that interest rates have no impact on money supply. https://www.sciencedirect.com/science/article/pii/S0921800916307510
How can Richard make such a claim?
satoshi nakamilton
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Very interesting thoughts about federal reserve.
This is literally the only place and time Milton Friedman will ever be upvoted on reddit
Nice prediction, we are getting there - slowly...
Friedman is a neo liberal moron. But love that quote.