How are economists Hayek and Keynes' ideas respectively used in America today?

[Anjaree]

The Keynesian model with stimulus package during the recession is well-known. But the coordination between monetary and fiscal policy today must go to the works of Hayek. Hayek's works on the theory of money and economic fluctuation have influenced the ideas that a free market in money is the best to create a stable and healthy currency. His comment against the Austrian school that the boom and bust which is claimed to be because of the central bank's inflationary credit expansion, is wrong. It is in fact,not because of the central bank,but the instability of the market.You might know that why Ron could not get nomination when he proposed to get rid off the FED. And thanks to Hayek for his concept of the government involvement in the economy, especially the creation of the social safety-net in the US.