using the following websites:

https://www.newyorkfed.org/education/fed21/index.html

https://www.federalreserve.gov/faqs/money-rates-policy.htm

https://www.federalreserve.gov/faqs/currency-coin.htm

https://www.nber.org/system/files/chapters/c8334/c8334.pdf

1. Summarize the recent policy of the Federal Reserve concerning the level of interest rates and the reasons for this policy. Do you agree with this policy? Why or why not?
2. How does this policy affect the supply of and demand for products and services?
3. What problems can arise when interest rates are kept very low for an extended period of time? Please include historical examples (including at least one biblical example) of the impact of low interest rates and their effect on the economy.
4. Using theInternational Standard Bible Encyclopedia, give an example of a currency used in the Bible and explain how the currency was used and how the supply of this currency may have affected the economy of the times.