5. This question asks you to read the statement and view the press conference from the FOMC meeting of June 14-15, 2022. Go to the following website:

https://www.federalreserve.gov/newsevents/pressreleases/monetary20220615a.htm

Also read the Implementation Note linked below the press release.

To navigate, start at the BOG home page,

www.federalreserve.gov ,

then click on monetary policy and then FOMC Calendar.

While you're at the site, you can also read about the tools of monetary policy, or view Jerome Powell's press conference or the Summary of Economic Projections.

After reading the statement and viewing the press conference, answer the following questions:

a. How does the FOMC view the current state of the economy? b. What does the FOMC forecast for the future of the economy? c. What is the target for the federal funds rate? What is the discount rate? d. What is the current stance of monetary policy? How has the Fed responded to the pandemic? e. According to Powell, how long will the Fed continue to maintain the target for the federal funds rate? f. Was the vote unanimous?