Does money supply affect economic growth?

I am fully aware of all the qualitative factors such as innovation, increased human capital, etc. that could contribute to economic growth. However in the very essence of economic growth, doesn't the money supply serve as the underline basis of economic growth. On a yearly basis, shouldn't the Federal Reserve increase the money supply to represent the gains in economic growth. When it's all said and done all money comes from the Central Banks of countries, and to sustain the economy, the Central Banks pump money into the system and we heavily rely on our credit system based off our expectations of money that will come later on