Time Magazine on Milton Friedman's inflationary advice in the late 1960s

Milton Friedman's opinions have particular weight now because the Nixon Administration has placed great reliance on the policies that he prescribes to deal with the current inflation...  Ironically, Friedman's principal complaint is that the Federal Reserve is overdoing the restraints in its effort to cure inflation.  "If the board continues to keep the growth of money at zero for another two months, I find it hard to see how we can avoid a severe recession," he says.  "The board has made the same mistake that it has made all along. It is going too far in the right direction."

~ Time, December 19, 1969