1. How much is the fed funds rate right now? (Look it up and cite source)

2. If you were in charge, would you raise the interest rate from the current level? To what specific percent? Or would you lower it? To what? (you have to choose raise or lower, and pick a value)

3. Does your chosen interest rate change represent expansionary or contractionary monetary policy? Explain

4. Lastly, justify your answer by articulating the effects of your proposal on interest rates, inflation, GDP, and unemployment.