At a recent family reunion, your cousin Scott starts lecturing you about the benefits of using a

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At a recent family reunion, your cousin Scott starts lecturing you about the benefits of using a money-growth target for monetary policy. All he talks about is the evidence showing that, over time, money growth and inflation are positively related. Although you agree with him on that point, you suggest to him that there are possible downsides to using such a policy rule.

What are they?

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