Please read “Here’s how the Fed raising interest rates can help get inflation lower and why it could fail” written by Jeff Cox and found here: https://www.cnbc.com/2022/04/08/heres-how-the-fed-raising-interest-rates-can-help-get-inflation-lower-and-why-it-could-fail.html.

According to the article, policymakers are going to try to slow down the economy and subdue inflation. Do you believe this to be good policy? Why or why not?

What is stagflation?

The article also says inflation is thought to be something of a self-fulfilling prophecy. What did the author mean by that?

What Fed policy was enacted under the direction of Fed Chair Paul Volker? Do you think such a policy is called for today?

For full credit, you will include a well-reasoned and well-written defense of all your answers. Your reflection essay will be approximately 1-2 paragraphs in length and will be devoid of typographical and grammatical errors.

Grading Rubric for Reflection Essays

	Content
Low Scores (0-3)	Average Scores (4-5)	High Score (6-7)
The reflection essay is missing content, i.e., a significant number of questions are left unanswered or are answered in a cursory manner.	The reflection essay contains adequate content, but a few questions are left unanswered or are answered in a cursory manner.	The reflection essay addresses all questions in a thoughtful and substantive manner.
	Sentence-level Conventions
Low Scores (0-1)	Average Scores (2)	High Scores (3)
There are 8 or more errors in spelling, grammar, and punctuation.	There are 6-7 errors in spelling, grammar, and punctuation.	There are 5 or fewer errors in spelling, grammar, and punctuation.

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