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aggregate demand aggregate supply American average banking system began billion bonds budget deficit caused central bank climbed Congress contraction contractionary countercyclical currency plus checking debt decade decline deflation deposits depression discount rate disinflation dollar economists economy economy's Eisenhower excess reserves expansion expansionary fall Fed's Federal Reserve fell fiscal policy full employment funds gold standard gold stock government expenditures government spending income inflation rate inflationary expectations investment Keynes Keynesian loans lower M2 growth rate market interest rates ment monetarist monetary policy money growth money supply growth Nixon open market operations output panic Percent change period policymakers postwar president Prime Rate programs pushed Reagan Reaganomics real interest rates recession recovery reduced reserve requirement result rise Roosevelt securities slow slowdown stagflation stock market supply growth rate surge surplus targeting tax cut tax increase tax rates tax revenues tion Treasury Treasury securities unemployment rate velocity Volcker