Since it implemented a new monetary control procedure in October 1979, the Federal Reserve continuously has been criticized for creating additional instability within financial markets around the world. Critics point out that this increased instability has been caused by the volatile short-run money growth in the United States, the result of the Fed’s attempt to more directly control the money supply by focusing more on the growth of reserves and less on smoothing interest rates. The purpose of this note is to compare briefly the short-run volatility money growth in the United States, Germany, Switzerland, and the United Kingdom and to investigate the longer-run trend of money growth in these countries over the past two decades. Germany and Switzerland have been chosen because each is usually considered to be a bastion of stable long-run money growth. The United Kingdom is of interest because of the ‘‘monetarist experiment” that is currently being conducted there.