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Question:a. In a column in the Wall Street Journal, two economists at the Council on Foreign Relations argue: Simple put, the Fed must choose between managing the level of reserves and managing rates. It cannot do both quot;. Do you agree? Briefly explain b. A former Federal Reserve official argued that at the Fed quot;the objectives of prices stability (i.e. inflation) and low long-term interest rate are essentially the same objective. quot; Briefly explain how these two moves together.
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