(3) The Federal Reserve's Next Monetary Policy Meeting Recommendation Brief the Chairman of the Federal Reserve on the current state of the labor market and the current and near future inflation prospects. Your memo will provide advice to the Chairman for the next Federal Open Market Committee (FOMC) meeting. Formulate a recommendation for the next FOMC meeting. Your recommendation should answer the following questions: Should the Fed raise interest rates, lower them, or leave them unchanged? Why? If you recommend changing interest rates, by a little or a lot and why? If you recommended to leave them unchanged, for how long (for a short while or for a long time)