Write a 500 to 750-word report on current monetary policy. The Fed’s semi-annual Monetary Policy Report to the Congress, which was presented to Congress on February 14, 2017, as well as the statements and minutes of the Federal Open Market Committee’s meetings provide background information on both the state of the economy and the Fed’s stance on the economy. These resources are available on the Federal Reserve’s web site at www.federalreserve.gov.
The following bullets include some words that are in blue — use these words as first-level headings with appropriate capitalization. Your report should:
• Include a brief introduction and a conclusion. See the note, Introductions and Conclusions, for more information on introductions and conclusions. Your introduction should include a concise preview of your report’s topics as well as a short thesis statement.
• Briefly review the current state of the economy including GDP, inflation, unemployment.
• Discuss the last time the federal funds and discount rates were increased as well as the last time they were decreased. Also discuss whether the Federal Reserve is currently more concerned about inflation (is it too high), GDP/economic growth (is it too weak), and unemployment (is it too high).
• Discuss the consequences of changes in interest rates on inflation and unemployment.
• Discuss the ethical implications of the Federal Reserve’s actions to reduce unemployment at the risk of raising inflation. Also discuss the ethical implications of the Federal Reserve’s actions to reduce inflation at the risk of raising unemployment. Be sure you discuss the segments of society, such as younger workers, older workers, minority groups, retirees, low-income households, high-income households, goods-producing firms, services-providing firms, etc., that are hurt most by an increase in inflation as well as those who are hurt most by an increase in unemployment. Also discuss whether these groups are compensated for their loses.
• Evaluate whether the Federal Open Market Committee (FOMC) is likely to increase, decrease, or leave the federal funds and discount rates unchanged over the next six months. Base your evaluation on current economic trends and on the latest actions of the FOMC. Include this evaluation in your conclusion. Please note: Your conclusion should also review all the major elements of your report.
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