What would Monetarists, using the Fishers Equation, argue about how Inflation would be Combatted? -What would Critics say?

-In the Short Run, V and T will probably not change, so any increase in P is Directly Caused by P. Because both sides are meant to Equal each other, any % in P is = any % in M -To Avoid Inflation, therefore, Monetarists will argue that the Money Supply must be Strictly Controlled -There is evidence to suggest that the Theory is good for Explaining High Inflation Levels, but for more modest ones, it is quite Ineffective