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What is the Federal Reserve (Fed) all about? Which FederalReserve District Bank is closest to you? Who is the currentChairman of the Fed? Should the Fed remain independent frompolitical authority or should the President and Congress have a sayin their operations? Why? Why not? What is FOMC? What is thecurrent Federal Funds Rate? How does the Fed implement monetarypolicy to manage the economy? At the last meeting of the FOMC whatwas done to the federal funds rateincreased decreased or nochange from previous meeting? Given the current state of the U.S.economy should the Fed be using expansionary monetary policy orcontractionary monetary policy? Why? Why Not?