Fiat money must have nearly constant purchasing power with respect to representative national product basket in short term as well as long term basis.

If economic system fails to perform satisfactorily without manipulating money it should be dumped.

Monetary policy should focus more on controlling inflation. Central Bank will use its tools like O.M.O, Bank rate,interest rate, selective credit contol among others to control inflation and in doing so,prices are stabilised, demand and supply, investment and hence overall economic growth.

A balanced approach to monetary policy involves the central bank strategically managing the relationship between controlling inflation and encouraging economic growth, as both are vital for a stable economy. This method is based on the understanding that while keeping inflation in check is important for safeguarding purchasing power and maintaining confidence, fostering economic growth is crucial during times of recession or high unemployment. The central bank employs several monetary policy tools—such as adjusting interest rates or using quantitative easing—to influence economic activity. For instance, reducing interest rates can stimulate borrowing and investment, leading to increased growth, even if it results in higher inflation initially. Conversely, if inflation begins to rise too rapidly, the central bank might increase interest rates to slow down the economy and stabilize prices. This flexible and responsive approach allows the central bank to adjust its strategies according to the changing economic landscape, ultimately working towards a robust economy that supports both stability and growth.

unless purchasing power of fiat money is held constant with respect to representative basket of national product it can not be held to be a reliable measure of wealth and it will fail to assist the market in just determination of prices leading to massive economic inefficiency including failure to efficiently allocate resources and just and efficient distribution of surplus produced among factors of production that lead to gross imbalance and continuing crises. Further if fiat money is continually falling amount of wealth it will corrupt accounting process leading to perpetual growth in fraud and corruption it is why if the system fails to maintain stability of purchasing power of fiat money with respect to representative national product basket only right solution is dump the system

Dear Researchers, Scientists, Friends,

The research question concerning the priorities of central bank monetary policy – inflation stabilization versus interventionist activation of economic growth – represents a perennial dilemma in macroeconomics, and the presented text accurately describes the tension between these two goals. However, it is worth expanding this discussion to include new research questions, such as the analysis of optimal monetary policy responses to supply shocks compared to demand shocks, the study of the role of inflation expectations and central bank credibility in shaping the effectiveness of monetary policy, the analysis of the impact of global macroeconomic factors and the monetary policies of other countries on domestic interest rate policy, as well as the implications of financial innovation and the digitalization of money for the monetary policy transmission mechanism and the central bank's ability to achieve its goals. Future research could also focus on the search for new tools and strategies of monetary policy that allow for the simultaneous pursuit of price stability and the support of sustainable economic growth in a complex and dynamic global environment. I sincerely thank everyone for their past contributions to this crucial debate. I am open to scientific cooperation in this fundamental area and invite you to continue this important discussion, which is key to shaping a stable and prosperous economic future.

Best wishes,

Dariusz Prokopowicz

While both goals are important, central bank monetary policy should primarily focus on stabilizing inflation, as price stability lays the foundation for sustainable economic growth, and excessive focus on growth can lead to overheating and long-term instability if inflation is not kept in check.

considering that currency is used as unit of account unless it is held constant the basic assumption that allows its use as unit od accounted is falsified leading to falsification modern economic;s principle of accounting and that corrupt accounting process and we are plunged in economic fraud and justice become impossible. constancy of currency is essential requirement of economic justice, welfare and sustainable growth.

While inflation stability is key for credibility, many economists argue a dual focus balancing growth and inflation (like in the Fed’s mandate) is more effective.

While inflation control is essential for macroeconomic stability, in times of economic slack or crisis, central banks may need to prioritize growth. A balanced dual mandate—like that of the U.S. Fed—helps address both objectives, depending on prevailing economic conditions.

Reality is simple when unit of account is variable quantity of what is being accounted, the accounting process get corrupted and become fraudulent. Majority of economists work as paid agents of big business their primary objective is to maximize return on capital and that require capitalist system driven by interest to be sustained and that requires use of free floats as unit of account despite their being compromised to sustain system of interest. Those who hold sustaining system of interest is essential even at the cost of open fraud will clearly allow monetary manipulation to sustain the system. One has to choose whether he/she stand for welfare and economic justice or with those who keep the pleasure of interest seeking capitalists as their top priority.

Central banks should prioritize stabilizing inflation as their primary mandate, since price stability creates the foundation for sustainable growth; however, in contexts of economic slack or crisis, a dual mandate balancing inflation control with growth promotion may be warranted.

why my replies are not visible?

Central banks must balance inflation stabilization and economic growth, but during periods of high inflation, the priority typically shifts toward price stability to preserve purchasing power and financial credibility; however, in recessions or crises, a growth-focused stance with accommodative policies is often necessary, making the ideal focus context-dependent.