week 5 Individual Assignment: Federal Reserve Paper
· Resources: U.S. Federal Reserve Web site
· Locate the section for Monetary Policy and the section for Monetary Policy Report to the Congress, from the U.S. Federal Reserve Web site http://www.federalreserve.gov
· Read the most recent report by the Federal Reserve Chairman.
· Write a 700- to 1,050-word paper on the U.S. Federal Reserve’s monetary policy that addresses the following points:
o Define the purpose and function of money
o Explain how the central bank manages a nation’s monetary system.
o Outline the stated direction of recent monetary policy in the United States.
o List at least one policy action that the Federal Reserve has taken to confirm that direction.
o Explain the effects of monetary policies on the economy’s production and employment.
· Cite your references appropriately. If you used an electronic source, include the URL. If you used a printed source please attach a copy of the data to your paper.
· Format your paper consistent with APA guidelines.
25bps to 5.25%, Albania -25bps to 4.25%, and Kazakhstan -50bps to 6.50%. The Bank of Zambia also announced its new benchmark interest rate would be set at 9.00%. Those that held monetary policy settin