A nominal GDP rule requires the Fed to keep the growth rate of M constant.

Name: A nominal GDP rule requires the Fed to keep the growth rate of M constant.
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A nominal GDP rule would require the Fed to keep nominal GDP constant, not the growth rate of M (the money supply). The Fed could still adjust M in order to keep nominal GDP stable, but they would not necessarily keep its growth rate constant.

A Nominal GDP Rule Requires the Fed to Keep the Growth