Go to the St. Louis Federal Reserve FRED database, and find data on the unemployment rate in the following states: Kentucky(KYUR), North Dakota (NDUR), Alaska ( AKUR), New York (NYUR), Alabama (ALUR), Texas (TXUR), Illinois (ILUR), Hawaii (HIUR), and the national unemployment rate (UNRATE).

a. For the most recent month of data available, determine which of these states had the highest, and which had the lowest, unemployment rate; how do these compare to the national average?

b. Based on your answer to part(a) and some online research, what do you think are some of the factors attributing to the varying unemployment rates among states?

c. Given your answer to part (a), what does this say about the need for all 12 Federal Reserve district presidents to participate in the FOMC meetings?