• 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 https://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.