https://fred.stlouisfed.org/.

7.4 Small Group Discussion - Unemployment and the Federal Funds Rate This activity focuses on unemployment and the federal funds rate. Follow the steps below to create a FRED graph and answer the quastions that follow. 1. Go to https://fred stlouisfed org/ 2. Search for *Unemployment Rate\" by copying and pasting this series ID: UNRATE into the Search box. The gray bars in the graph represent recessions. 3. Look at the upper right of the screen for an orange button that says EDIT GRAPH. Click it and make sure the ADD LINE tab is highlighted. In the search bar, type in \"Effective Federal Funds Rate\" or use this series ID: EFFR. Click on this, and then click the Add data series button 4. Use the date boxes above the graph to change the start date to \"2000-01-01." 5. Make sure that the label on your vertical axis is Percent 6. Click on \"Share Links on the bottom left of your graph and select \"Image Short URL.\" Copy the URL that appears in the pop-up window and paste it in your response to the discussion board activity. Answer these questions: What is the URL for the graph you created? * Define each variable the unemployment rate and the federal funds rate. As part of your answer, indicate which one is a tool used by the Fed to conduct monetary policy. * Use your graph to answer the guestions below about these two variables o Unemployment Rate What happens before a recession? What happens during a recession? What happens after a recession? What happened during 20207 o Effective Federal Funds Rate What happens before a recession? What happens during a recession? What happens after a recession? What happened during 20207 * Think about what types of action the Fed takes when we are in a recession. Might those actions help explain patterns that you observe in the variables after a recession starts? Explain your thinking about that. Don't forget to come back to the discussion to read your classmates' responses and comment and/or ask questions that further the discussion. In addition to posting your answers to the initial questions, you need te make a minimum of two follow-up posts that further the discussion in order to earn full credit. The initial post can earn you 15 points and your responses (minimum of two) can earn you another 15 points. See the Rubric and Additional Information under the Syllabus, Rubrics, Additional Information menu button for more detail about expectations and grading. Specifically, look at the suggestions for how to construct your replies to other students' posts. These are intended to help you use critical thinking and critical reading strategies to construct your posts