Economics Lesson 1 : Economic growth causes inflation i.e. increasing demand and lack of sufficient supply causes inflation.
Economics Lesson 2 : A slow-growth economy leads to a decline in inflation.
Milton Friedman : “Inflation is a monetary phenomenon – Control the growth of money supply and thus control inflation.” » Read more: The Lessons of Milton Friedman

According to Mr. Friedman, the Great Depression did not occur primarily as a result of the stock market crash of the 1930s but mainly because of the lack of intervention of the Federal Reserve. When the Bank of the United States in New York crashed on December 11, 1930, he says that the Federal Reserve should have intervened and flooded the country with liquidity and hastened to ensure that no more failures took place. Instead, they were silent observers of an imploding economy and persisted with a lackluster monetary policy.