A Monetarist is an economist that strongly believes that if money supply rises greater than the national income growth rate then this will lead to inflation and that the overall health of the economy can be determined by the control of money supply. A well-known monetarist is Milton Friedman who wrote the book “A Monetary History of The United States, 1867 – 1960,” which covered his views such as the Friedman’s k-percent rule. The k-percent rule states that the money supply should rise by a fixed k-percent each year.