monetarist

An economist who holds the strong belief that the economy's performance is determined almost entirely by changes in the money supply.

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Milton Friedman was a well-known monetarist.

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Few organizations can move the market like the Federal Reserve. As an investor, it's important to understand exactly what the Fed does and how it influences the economy. The Federal Reserve

Economist who believes that control of the Money Supply is the key to managing the boom and bust cycles in the economy. Monetarists, most notably Milton Friedman and his followers, maintain that recessions are caused by declines in the rate of expansion in the money supply. The monetarist school of economic thought says that setting annual targets for growth in the money supply, say 3%-4% annually, is the best means to achieve stable growth in the economy and control inflation. As an economic theory, though, monetarism has its drawbacks. Critics say monetarism ignores other factors, such as government spending and taxation, and bank credit, which are equally important. According to the monetarist view, the Velocity of Money is the most important factor influencing economic growth. Velocity is usually defined as the number of times the same dollar is spent in a year; velocity of money is calculated by dividing total sales volume (or Gross Domestic Product output in goods and services) by the money supply in circulation. Finally, there is still no inclusive definition of the money supply itself; consequently, the money supply is observed by the Federal Reserve, but is only one indicator of the effectiveness of monetary policy.

The noun has one meaning:

Meaning #1: an advocate of the theory that economic fluctuations are caused by increases or decreases in the supply of money