(20 points) On Wednesday, December 14,2022 , the FOMC announced a 50 b.p. increase in the Federal Funds Rate. (a) Given the current environment, why is the Fed increasing the interest rate? (b) When the Fed "raises rates," what is happening behind the scenes to increase actual interest rates? (c) How has this process changed over the last 15 years. (d) Explain two different transmission mechanisms that the Fed currently relies on to affect the broader economy by raising interest rates