Part 1: Class, one of the jobs of the Federal Reserves is to use its tools to promote low inflation and healthy employment levels. What are the challenges involved in trying to accomplish both of these goals at the same time?

Part 2: Should the Fed remain independent from political authority or should the President and Congress have a say in their operations? Why? Why not?

Part 3: Currently the Federal Funds interest rate is .50%. About two years ago, it was 1.75%. If you had to predict, given current and expected economic conditions, where do you think it will be a year from now? Explain.

Please give proper explanations