Q1. Does the leadership of the Federal Reserve System think that the current rapid increase in the general price level will continue? Yes or No? Explain your reasoning behind your answer step by step. (3 points)

Q2. Do you think the Federal Reserve will raise interest rates in 2021? Yes or No? Explain your reasoning behind your answer step by step. You can cite the Federal Reserve's economic forecasting above in your essay. (2 points)

Q3. The majority of the economists in the United States think that it is not helpful to the economy to go back to the gold standard. Explain their reasoning. Focus on the ability of the Fed to help the economy to recover when it is in recession. (2 points)