9. Suppose you are a member of the FOMC and the US economy is entering a recession, write a directive to the new york fed about the
conduct of monetary policy over the next two months. Your directive
should address a target for the rate of growth of the M2 money supply, the
federal funds rate the rate of inflation and the foreign exchange value of the
dollar vs the japanese yen and euro you may refer refer to the board of
governors web site, www. bog. frb. fed. us, for example since the site posts
fomc directives