Use the following graphs to answer the question in your own words: 16.0 US |15.0 Unemployment Rate 14.0 13.0 US Inflation rate 12.0 11.0 Monthly 12-month inflation rate in the United States from September 2020 to 10.0 9.0 September 2023 8.0 7.0 109 9.1% 6.0 8.5% 8.6% 8.5% 8.2% 5.0 Full Employment 4.0 8% 3.0 6.8% Jul-23 Apr-24 Ocd-23 Jul-20 Jul-24 Jul-22 Apr-23 Od-24 6% Jan-23 Ocd-20 Apr-22 Ocd-22 Ocd-21 Jan-24 Jan-20 Jul-21 |Jan-22 Apr-20 Jan-21 |Apr-21 5.4% 5.49% 5% Inflation rate 4.2% 4% 3.7% 23 US Real GDP Reset zoom 20 22. 2 1.4% 12% 1.4% 22 21.5 Real GDP in trillion chained (2017) U.S. dollars 21 Jul 21 Jul 22 Sep 22 Nov 22 Jan '23 Mar '23 May 23 Jul 23 Sep 20 Nov 20 Jan 21 Mar '21 May 21 Sep 21 Nov 21 Jan 22 Mar '22 May 22 Sep 23 20.5 Source Additional Information Bureau of Labor Statistics United States; September 2020 to September 2023 Statista 2023 Q2'20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 04 21 Q1 22 02122 Q322 04 22 Q1 23 Q2 23 Q3 23 Imagine you are the policy advisor for the Federal Reserve during this time period. Comparing the graphs during the same windows of dates/years, explain at what point you would implement monetary policy and what would indicate the Federal Reserve to act at this time. Give at least 2 steps the Federal reserve might take to regulate the US economy. *Note- Q1 is January-March of any given year, Q2 is April- June of any given year, Q3 is July- Sept of any given year, and Q4 is Oct- Dec of any given year. When answering, make sure you actually specify the year you are referring to