He endorsed Reagan’s pro-growth objectives while maintaining the Fed’s independence.
Excerpt
Going back those 40 some years, we can draw lessons … about how to coordinate monetary and fiscal policy effectively. …
The Reagan plan consisted of four parts: “(1) substantial reduction in the growth of federal expenditures, (2) significantly reduced federal tax rates, (3) prudent relief of federal regulatory burdens, and (4) a monetary policy on the part of the independent Federal Reserve System consistent with those policies.”
“The goal of this Administration is to nurture the strength and vitality of the American people by reducing the burdensome, intrusive role of the federal government; by lowering tax rates and cutting spending; and by providing incentives for individuals to work, to save, and to invest. It is our basic belief that only by reducing the growth of government can we increase the growth of the economy.”