Answer the following questions. Please rewritethe questions and write in complete sentences and paragraphs. Remember that economics is a science and that we are concerned with describingwhat, how, and why behaviors occur,therefore it should be detailed enough to clearly convey the economic concepts, using the appropriate terminology.You should apply the material from this module and chapter and not the internet.

Assume the economy is suffering from massive inflation and you are the Chairperson of the FED. What type of monetary policy would you employ and describe what changes are made to the "three tools" of monetary policy. Describe the subsequent impact on the money supply, interest rates, aggregate spending, and real GDP.