Problem
1. You are the economics editor of the local newspaper. You have just received the following news items:
"Congress has just adopted a new budget calling for tax cuts and a $50 billion deficit."
"The FRS has just announced an increase in the discount rate, a signal that tight monetary policy is in the offing."
Write a brief news story describing how these policies will likely affect inflation and unemployment in the short term and in the long run.
2. Should the FRS remain independent? Take a side and defend your choice.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.