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July/August 2001, 
Vol. 83, No. 4
Posted 2001-07-01

Money and Monetary Policy: An Essay in Honor of Darryl Francis

by Allan H. Meltzer

The author discusses how Darryl Francis took a leadership role by encouraging the St. Louis monetarist tradition, when it was scorned and derided, by pointing to the need for more restrictive monetary policy in the late 1960s and by continuing to make the case for lower inflation during his service on the FOMC and as president of St. Louis Fed.