Does Money Still Matter for Monetary Policy?
http://www.richmondfed.org/publications/research/economic_brief/2013/pdf/eb_13-05.pdf
Looks at the decline of money supply as a major factor in economic thinking. Traces the evolution of economists’ ideas about monetarism and the Fed’s use of the money supply. Concludes there may be a renewed role for money supply in the wake of significant changes to monetary policy since the recession of 2008-09. From the Richmond Federal Reserve Bank