questions: 1) Monetarists disapprove of how the Federal Reserve conducts monetary policy. is it about the Fed’s policy process that bothers them? Discuss criticism. 2) Some economists contend that Phillips

questions: 1) Monetarists disapprove of how the Federal Reserve conducts monetary policy. is it about the Fed’s policy process that bothers them? Discuss criticism. 2) Some economists contend that Phillips curve no longer exists in the US. Others argue that it has simply shifted extensively to the left. Who is correct? Explain your answer. 3) The US economy is currently in a very sluggish “expansion” phase of the business cycle. If you were advising the President of the US and Chairman of the Federal Reserve, what monetary policy, fiscal policy, or other alternative actions would you advice them to take to stimulate the expansion. a. Explain your reasons for each policy or alternative action proposed. b. If you advice them to take no new actions , explain your reasons for this advise.

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