Federal Reserve

Visit the Board of Governors of the Federal Reserve website and read the latest Federal Open Market Committee (FOMC) statement which discusses the current type of monetary policy which the Federal Reserve is implementing:

http://www.federalreserve.gov/monetarypolicy/default.htm

Is the Federal Reserve implementing expansionary or contractionary monetary policy? Why? How do you think that the Federal Reserve’s changes to monetary policy will impact the condition of the U.S. economy? Why?