Monetary policy
a involves running a surplus and deficit
b involves changing money supply and taxes
c is managed by the Treasury Department
d none of the above

Discuss the current stance of the Fed’s policy based on Fed chair (Janet Yellen)’s testimony in June, 2016, which is available at the Fed’s website ( HYPERLINK “http://www.federalreserve.gov/monetarypolicy/mpr_default.htm” http://www.federalreserve.gov/monetarypolicy/mpr_default.htm). Summarize her view of the state of the economy, her concern, and the actions the Fed is taking and why. Based on what you have learned in class and judging from the current economic and financial conditions, what policy do you believe the Fed should pursue? Be specific about your own policy proposal. Your paper need to have arguments to defend your policy proposal rigorously. The paper should be 8–10 pages in length including text/figures/tables, plus a bibliography, double-spaced. Make sure to take good use of data.