In his 1967 address to the American Economic Association,Milton Friedman explained that increases in the money supply will temporarily reduce unemployment because

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According to Milton Friedman, increases in the money supply will lead to inflation which causes prices to rise faster than wages. This temporary increase in the money supply may reduce unemployment due to a decline in real wages, as employers will be able to hire more workers without corresponding increases in labor costs. However, this effect is only temporary, and in the long run, inflationary policies will ultimately do more harm than good.

In His 1967 Address to the American Economic Association,Milton Friedman