Friedman believed that monetary policy was important but had less power to influence the economy than fiscal policy did.

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Friedman believed in the monetarist theory, which places a greater emphasis on the role of monetary policy in controlling inflation and promoting economic growth. In his view, monetary policy could be highly effective if implemented correctly, and should be the primary tool for managing the economy. He also believed that fiscal policy was less effective than monetary policy because it was subject to political constraints and could be slow to take effect.

Friedman Believed That Monetary Policy Was Important but Had Less