Nobel-laureate economist Milton Friedman suggested that policymakers strive to ensure that the monetary aggregates:

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Friedman suggested that policymakers strive to ensure that the monetary aggregates grow at a rate equal to the rate of real growth plus the desired level of inflation. This is known as the Friedman rule and it aims to maintain a stable price level. Friedman argued that a stable rate of monetary growth was necessary for economic stability and growth, and that fluctuations in the money supply could lead to economic instability and inflation.

Nobel-Laureate Economist Milton Friedman Suggested That Policymakers Strive to Ensure