In an article in Forbes, Paul Roderick Gregory, an economist at the University of Houston, commented on the use of monetary policy to fight a recession: "Those who devise stimulus programs must know in advance the extent to which households and businesses will correctly anticipate the policy. A policy that has been used x times in the past is unlikely to have a stimulative effect because it will be easily anticipated." Does Gregory believe that households and businesses have adaptive expectations or rational expectations regarding monetary policy? Briefly explain.