Go to www.federalreserve.gov, the Web site for the Federal Reserve Board of Governors, and read the most recent Federal Open Market Committee (FOMC) press release. At the Web site, select "Monetary Policy" at the top of the screen and then select "Federal Open Market Committee" on the far left of the screen. Select "Meeting calendars and information." Finally, scroll down and select Statement for the date of the most recent FOMC meeting. Answer the following questions on the basis of the FOMC press release.
a. Did the FOMC change the target for the federal funds rate? If so, what was the change?
b. On balance, in its statement, does the FOMC appear to be more concerned about slow economic growth or high inflation?
c. Did the FOMC change the interest rate paid on bank reserves?
d. Did the Fed announce any other monetary policy actions?