Comment on Federal Reserve Control of the Money Stock.

The article comments on the article "Federal Reserve Control of the Money Stock," by Ralph C. Bryant, and published in the November 2, 1982 issue of the "Journal of Money, Credit, and Banking." The article also provides an analysis of the operating procedures of the U.S. Federal Reserve Board and a discussion of the role of political arrangements in raising the cost of slowing inflation. The author examines the effect of transitory changes in the money market. The author states that his main issue with Bryant's article is that it fails to discuss key problems that divide the Federal Reserve and its critics.