Complex sentence: He belived giving governments any flexibility in setting money growth would lead to inflation and therefore, the central bank should follow a procyclical monetary policy and expand the money supply at a constant rate, equivalent to the rate of growth of real GDP.
Split into simpler sentences: He belived giving governments any flexibility in setting money growth would lead to inflation. For this reason, the central bank should follow a procyclical monetary policy and expand the money supply at a constant rate, equivalent to the rate of growth of real GDP.