Should we mention that Friedman claimed that our entire monetary policy could be determined by one man sitting at a desk for one day out of the month?
How is that basing monetary policy on market forces?
It is a form of dictation. And having that power spread out over 12 branches of the Fed makes it no less dictatorial and socialist.
As I’ve said many times, I really like and appreciate Friedman’s books and lectures on free-market economics, but his Monetarism (which is a darling of the Keynesians) and backs a central bank, is as anti-thetical to free-market principles as you can get.