Refer to the information below, use the appropriate tools that we discussed in class, including monetary policy, government policy, money market, the AD-AS and Phillip curves model to analyze the impact of the Trumps policies and Bidens policies on output, good prices, inflation and unemployment.

- The Federal Reserve raised the federal fund rate (Hint: When the Fed raises rates, it's called contractionary monetary policy. A higher fed funds rate means banks are less able to borrow money to keep their reserves at the mandated level. As a result, they lend less money out)

(draw curve models)