monetary policy 3
The Federal Reserve Bank releases a report after each FOMC meeting. The last press conference was held on June 19th. Please watch the Fed Chair Powell’s report on monetary policy and the economy ( Just the report on monetary policy in the press conference. It’s around 10 minutes. If you have time, I highly recommend that you also watch the Q&A session)
June 19, 2019 Chair Powell’s press conference on Monetary Policy Video (see the video at the top) https://www.federalreserve.gov/ (Links to an external site.)
June 19, 2019 Chair Powell’s press conference on Monetary Policy Video TRANSCRIPTS
1) What can you tell about the US economy based on this report (GDP, economic growth, unemployment, inflation)? Please also add information from your research in Week 1 (remember that we have new data released on bea.gov and bls.gov since our first week. We constantly need to update data. Please check the latest data before you post your comments)
2) The Fed’s dual mandate is to promote maximum employment and keep prices stable (target inflation rate is 2%). Please first explain how the Fed has used its three monetary policy tools (required reserve ratio, discount rate and open market operations) since the great recession to stimulate the economy (you can use the charts in the below links)
3) Then, comment on the Fed’s current monetary policy based on Powell’s testimony.
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