Since the Federal Reserve was established in 1913, the United States has experienced three periods of high inflation, and each was preceded and accompanied by a period of sharp decline in the money supply.

Question

Quizplus · Accepted Answer

The periods of high inflation in the United States since the Federal Reserve was established in 1913 were not consistently preceded by sharp declines in the money supply. In fact, high inflation periods often occurred during or after increases in the money supply, contrary to the claim.

Since the Federal Reserve Was Established in 1913, the United