Write a memo briefing the Chairman of the Federal Reserve on the current state of the labor market and the current and near future inflation prospects.Your memo will provide advice to the Chairman for the next Federal Open Market Committee (FOMC) meeting.

1.Assuming the Federal Reserve targets a 2 percent inflation rate and a 4 percent natural unemployment rate over a one-year period, discuss the economy's current alignment to those targets.Data on US inflation and unemployment may be obtained from the Bureau of Labor Statistics or the Federal Reserve Bank of St. Louis.

- The objective is to apply your learning to the analysis and assessment of US monetary policy, which has widespread implications for the national and international business environment.

Resources - For this assignment, you will use Okun's Law, Inflation, Unemployment, and the Phillips Curve