Read the following Federal Open Market Committee (FOMC) Statement from March 2021:https://www.federalreserve.gov/newsevents/pressreleases/monetary20210317a.htm(Links to an external site.)

Read the following article describing the 3rd stimulus bill passed since the start of the pandemic:https://www.usatoday.com/in-depth/news/2021/03/10/covid-19-stimulus-bill-joe-bidens-plan-explained-6-graphics/4601454001/

1. What action has the Fed taken to change the money supply?
2. Will these actions expand or contract the money supply?
3. What type of monetary policy is this?
4. What impact would you anticipate this monetary policy having on GDP and unemployment?
5. What action has Congress/ the president taken to change the economy?
6. What type of fiscal policy is this?
7. What impact would anticipate this fiscal policy having on GDP and unemployment?