Assume the following conditions. The last time the FOMC met, it decided to raise interest rates. At that time economic growth was very strong, so infl
Assume the following conditions. The last time the FOMC met, it decided to raise interest rates. At that time economic growth was very strong, so inflation was relatively high. Since the last meeting, economic growth has weakened, and the unemployment rate will likely rise by 1 percentage point over the quarter. The FOMC’s next meeting is tomorrow. Do you think the FOMC will revise its targeted federal funds rate? If so, how? (LO4)