Suppose you are a member of the FOMC and the U.S. economy is entering a recession. Write a directive to the committee about the conduct of monetary policy over the next two months.

Suppose you are a member of the FOMC and the U.S. economy is entering a recession. Write a directive to the committee about the conduct of monetary policy over the next two months. At the meeting, the committee will respond to changes in economic prospects as needed to support the attainment of its objectives. Your directive may address a target for the GDP growth rate, the federal funds rate, and the rate of inflation. Be sure to make specific proposals. 1 Read chapter 13: Monetary Policy, in your textbook (Boyes & Melvin, 10th ed)2. Read the following resources:-What is the Fed and its role in the U.S. economy?http://www.frbsf.org/education/teacher-resources/what-is-the-fedhttp://www.federalreserve.gov/pf/pf.htm-Open Market Operation/OMOhttp://www.newyorkfed.org/aboutthefed/fedpoint/fed32.html-Federal Open Market Committee/FOMChttp://www.federalreserve.gov/monetarypolicy/fomc.htm-Students Mock Federal Open market Committee Meeting Presentationhttp://www.youtube.com/watch?v=jlGhs4X_vJA&list=SP7D1E1A1E47C3C8B3&index=5&feature=plpp_video-Monetary Policy Implementationhttp://www.frbsf.org/education/activities/chairman/