What is the tight money policy?

Tight monetary policy is a course of action undertaken by a central bank such as the Federal Reserve to slow down overheated economic growth, to constrict spending in an economy that is seen to be accelerating too quickly, or to curb inflation when it is rising too fast.

monarchy doesn’t have to have the hereditary element. there have been elective monarchies in the past where you choose your king-for-life and when he dies elect someone else for the job.