What ensues is an hours-long discussion

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Question: You begin chairing your first meeting of the Federal Open Market Committee. Here are how things stand right now. As stated earlier, unemployment is slowly rising, up half a percent from your last meeting three months ago and is now at 6.5%. Inflation is at 1.3%, right around where it was last time. The current Federal Funds Rate is at 2.5%. It was at 3% but your predecessor and the Board of Governors just cut it during the last meeting. What ensues is an hours-long discussion about the correct policy to take. It becomes clear that there are two camps: those who want to keep the rate the same and those who want to lower it. They turn to you to see which you would advise doing.

Reference no: EM133630219

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