1. � Assignment: Federal Reserve, Banking, and Inflation Due Date: Day 7 (Individual forum) · � Resources: Ch. 29 & 30 of Principles of Economics, “Fed Official Expects Growth,”� and “Are Inflation Expectations Rising from the Ashes?”� · � Read the articles “Fed Official Expects Growth”� at http://pittsburghlive.com/x/tribune-review/business/s_385893.html,and “Are Inflation Expectations Rising from the Ashes?”� at http://research.stlouisfed.org/publications/mt/20051101/cover.pdf. · � Create a Microsoft© PowerPoint® presentation with 10 to 12 slides addressing the following questions: o Why was the Federal Reserve created? What are its essential functions? o Who are the decision makers of the Federal Reserve? How do these people obtain these positions? o How does the Federal Reserve control the monetary system? Specifically, what tools does the Fed have to use? o How do banks increase the money supply? o How is inflation measured? o What are the causes of inflation? o Are natural disasters causes of inflation or deflation? Where might the public see the evidence? o What are the costs of inflation? o Why is inflation so widely feared? · � Include detailed speaker’s notes. · � Format your Presentation using APA guidelines. · � Post your presentation as a Microsoft® PowerPoint® attachment.