Essay: Monetary Policy Effectiveness

An essay on the Fed's monetary policy effectiveness. Well-written and organized, using outside sources with appropriate citation.It is expected that you will support your views with empirical data, particularly relating to inflation rates and unemployment levels over the past decade.Mere opinion on the efficacy of the Fed's monetary policy initiatives will not be sufficient to earn full points.

Specifically, you should address the following topic questions:

1.How effectively has the Federal Reserve used monetary policy over the past decade to achieve its goals of price stability and maximum employment?

2. What are some of thevariables influencing price stability and employment that arelargely beyond the Fed's control?

3. Would it be preferable for the Fed to operate with a single mandate of price stability and, if so, what are the implications for achieving full employment?

The grading rubric which will be used to score your essay is provided below: