1. The Federal Open Market Committee (FOMC) will meet on January 28th and 29th. The results of the meeting can be found in the Press Release from the Board of Governors of the Federal Reserve System which is normally on Wednesday at 1:00 pm Central Time. In one page or less, address the following:

   1. Summarize the action(s), if any, taken by the FOMC as per its Press Release and the Decisions Regarding Monetary Policy Implementation on January 29th.

   2. Explain why the FOMC took this action.

   3.Discuss the effect the FOMC's actions (or lack of actions) had on the following:

   a. The stock market as measured by the Dow Jones Industrial Average (DJIA), immediately after the press release (e.g. Dow up or down).

   b. The closing value of the DJIA from the the day before the press release and the day of the press release.

   c. Interest rates (use the 3-month and 10- year U.S. Treasury securities yields and explain if rates went up on down and by how many basis points based on the change from the day before the press release to the day of the press release (a good source for this question is the Daily treasury Yield Curve Rates from the U. S. Department of the Treasury).