3. You can use FRED to answer the following questions about the economic data in the past few weeks.

b. What was the (seasonally adjusted) weekly average for initial claims for unemployment insurance that were filed from March 15, 2020-April 11, 2020? How does this compare with the weekly average for initial claims for unemployment insurance over the decade prior to March 15, 2020?

c. What was the (annualized and seasonally adjusted) percentage change in the headline consumer price index (all urban consumers) from February 2020 to March 2020? What does this change suggest about the forces driving the COVID-19 shock? (Hint: in answering the second question, you may want to use your answers to Question 1.)