1. Which monetary policy is the Fed using now? (i.e., contractionary or expansionary?) Why does the Fed use this monetary policy? Explain your answer in terms of economics.
2. What does the Fed do during Open Market Operations? How does the Fed raise or lower interest rates? Explain your answer in terms of economics.
3. Do you and/or your family gain or lose from the current monetary policy? Please share your own experiences with two specific examples. (These two examples must be different kind of examples, i.e. not two mortgage examples or two bank account examples, etc.)