I need help to write a directive (3 typed pages) to the committee about an economy entering a recession the conduct of monetary policy over the next two months. At the meeting, the committee will respond to changes in economic prospects as needed to support the attainment of its objectives. Your directive may address a target for the rate of growth of the M2 money supply, the federal funds rate, the rate of inflation, and the foreign exchange value of the dollar versus the Chinese Yuan and theEuro. Be sure to make specific proposals. Indicate why your recommendations will work. You may submit your paper to your instructor. You may use the following sources: (1) Fed ChairmanBernanke'spast economic report to congress (http://www.ny.frb.org/); (2) You can be Chairman of the Federal Reserve System (economics website); (3) Chapter 14, Monetary Policy (Textbook,Boyes& Melvin); (4)LaGuardiaEconomics website:http://www.laguardia.edu/economics/