Federal Reserve Chairman Game

Using the concepts you've been studying, describe how the game shows the use of
monetary policy?
In Monetary policy, the authority controls the supply of money by through
targeting of the interest rate to promote economic growth and stability. The main
goal is to have the relatively low price and less unemployment rate. In same way
this game also adjusts the federal interest rate in order to retain the lowest
unemployment rate and improving the economic stability through the less
inflation rate that increase the economic stability. Thus, this game also controls
the monetary policy.

How can unforeseen circumstances affect the economy? Give examples.
In case if the supply of money is not controlled by the monetary authority then
there are some chances that affect the economic stability such as increase in
inflation rate and unemployment rate may cause the issue to the current financial
need and finally cause the high risk to the country. The industry, business,
government and common people all will effect because of the loose monetary
policy and uncontrolled interest rate over the economy.

How does the Fed react to these circumstances? Did you get re-appointed? Why
or why not?
In Fed, it is recommended to keep the inflation rate low and stable around 2
percent and also the unemployment rate as normal rate around 5 percent. For
these circumstances it is necessary to have the fed rate around 4.5 percent and
these fed rates need to be revised after every 3 months for the next four years. If
the fed are increasing till 7.50 percent the unemployment rate is around 4.69
percent and inflation rate is 2.26 % and the left quarters are 15 but still the
inflation is raiding. So above on this, the inflation will be higher as well as the
unemployment rate. No, I was dismissed for that high rate of inflation because I
was not able to control the monetary policy even for 2 times opportunity.