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Inflation is always and everywhere a monetary phenomenon" - Milton Friedman Milton Friedman's statement theorizes that the source of all inflation is a sustained period of high growth rates in the money supply. Appropriately, Friedman's hypothesis implies inflation can be prevented by consistently reducing the growth rate of money supply. The key assumption in this theory is SUSTAINED periods of high money supply growth rates. Meaning high levels of inflation can only occur if money supply is being continually increased. This theory carries weight no matter the school of economic thought you subscribe to... Plain and Simple: The Fed has drastically increased money supply in the banking system. This expansionary policy, if continued, will ultimately lead to high levels of inflation. This is...(
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