Sources : http://www.frbsf.org/education/teacher-resources/what-is-the-fedhttp://www.federalreserve.gov/pf/pf.htmhttp://www.newyorkfed.org/aboutthefed/fedpoint/fed32.htmlhttp://www.frbsf.org/education/activities/chairman/http://www.youtube.com/watch?v=jlGhs4X_vJA&list=SP7D1E1A1E47C3C8B3&index=5&feature=plpp_video

Suppose you are a member of the FOMC and the U.S. economy is entering a recession. Write a directive (at least 4 typed pages, including your sources) to the committee about 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 GDP growth rate, the federal funds rate, and the rate of inflation. Be sure to make specific proposals. Indicate why your recommendations will work. You may submit your paper to your instructor