Put differently, the UK money stock would remain unchanged.

This increase meant that even though the Fed increased the monetary base, the money multipliers declined so much that the money stock (M2) fell by about a third in less than four years.

It is calculated as the annual national income; average money stock in the period.

managing’ the national money supply by means of monetary policy with the aim of:

The control of interest rates, and the control of the money supply, or inflation.

The control of interest rates, and the control of the money supply, or inflation.

The United States, with two thirds of the world’s money supply, dominated the new international monetary system created by the Bretton Woods (New Hampshire) Agreement in July 1944.