Writing Feedback / Monetary Policy Paper - Is this okay... thank you [3]

Hi there, i was wondering is there any mistake for my research paper. i want to thanks whoever giving me feedback. also in the first paragraph what other word can i use beside using "we" eg. the people live in a nation...

also is my conclusion good

We live in a nation where everyone wants to have a job of some sort; whether it is being a teacher, government's worker, chef or many other interesting jobs that is being offered here in the United States. We all want to be employ and not be consider unemployed. Everyone prefers to pay less and not pay more when they go out shopping, dine-out or even paying the mortgage. In this research paper, Monetary Policy can be the solution to influence the levels of inflation and reduce unemployment in the U.S economy.

What is Monetary Policy as define by Wikipedia? Monetary policy is the process by which the central bank or monetary authority manages the money supply to achieve specific goals - such as constraining inflation, achieving full employment or economic growth. Here in the United States Monetary policy is controlled by the Federal Reserve System also known as "the Fed" there is one Fed that I know of, which it is located in Downtown, Los Angeles. In principle, Federal Reserve policy makers can use three different tools to control the money supply and interest rates to reach it specific monetary policy goals that three different tools are: open market operation, the discount rate, and the reserve requirements to manipulate the money supply (Dua, 271).

In Open Market Operations, the Fed will usually buy and sells U.S. Treasury securities. When that happens, it affects the amount of moneys that the banks have available to make loan out to customer or business (Financial Pipeline Website). Remember bank keep only a small amount of money to make loan out. Let me give you some of my examples, let say if the Fed decided to buys Treasury Securities (Bond), banks will have more moneys to loan out because the Fed is putting more money into the banking system. Now let say, that if the Fed maybe decided to sell its Treasury Securities, bank will in return now have less money to loan out because many companies is buying the securities and withdrawing their money from the bank, in order to buy the Treasury securities. As a result, bank will have less money to loan out and probably it will charge higher interest rates to loan out to customer. Therefore, customer would not want to borrow money if interest rate is high, which then will bring down inflation because many people are not spending more.

The next tool is discount rate; discount rate refers to the amount of interest rate the Fed charges bank for borrowing their money (Amos, 32). Higher or lower rates affect the amount of excess reserve (money) that banks have available to make loans and create money (Amos, 32). Let say that if the Fed decided to lowers the discount rate(interest rate it charge bank), banks then in return will borrow more money from them and make more loans out to the people by charging the customers lower interest rates. Meaning people will spend more, which will lead to more employment for the economy because more people are needed to manufacture more goods and services. Now if the Fed decided to raises the discount rates, then maybe the banks will probably say "NO WAY" and not borrow any loan from the Fed. As a result, banks can borrow less money and make fewer loans out to people charging those people highest interest rates.

The last tool that the Fed can use is reserve requirement. The Fed can further adjust the proportion of reserves (money) that banks must keep to back outstanding deposits (Wikipedia website). Higher and lower rates affect the deposit multiplier and the amount of deposits banks can create with a given amount of reserves (Dua, 274). To make it easier to understand, let say when the required reserve ratio is raised, banks have not a lot reserves, causing them to try to replace those reserves. They do so by reducing the amount of loans, and the money supply falls. If the fed decided to lower the reserve requirements, then banks can use it existing reserves to make more loans which will lead to an increase in the money supply. The discount rate cannot be used to control the money supply with great precision, because its effects on banks' demand for reserves are uncertain. In practice, the Fed does not use the discount rate very often to control the money supply. It does change the discount rate from time to time, but this is to keep in line with other interest rates, which are usually leading the discount rate anyway (Adam, 120).

Out of the three tools that the Federal Reserve System, Open market operations are the Fed's preferred means of controlling the money supply for several reasons. First, they can be used with some accuracy. I also think that if the Fed needs to make small changes in the money supply, it just sells or purchases a small amount of securities. Second, open market operations are really flexible. If the Fed decides to reverse course, it can switch from buying to selling just that easily. Finally, the operations have a fairly predictable effect on the supply of money.

When there is high unemployment rate above it natural rate of unemployment (which is 5.5 percent), I believe inflation needs to increase by a bit, in order to raise the price of goods and services and allow more output to be produced. When unemployment rate is near full employment rate of 5.5 percent, the policy it should take on is to slow down the worker productively in order to slow down the output rates, and still remain at almost perfect condition of maximum employment. Raising inflation too much will cause many consumers not to spend their money on goods and services, therefore, sending the economy into recession.

Another issue or concern of the Federal Reserve is about "future inflation". People's expectations about "future inflation" may affect the policy for example, if monetary policy was straightforward then consumers and business people may ask for larger increases in wages and prices, which would cause inflation to increase without big changes in employment and output of production (Hayek, 67). The debate about the importance of money growth rates can easily be misunderstood (Gali, 17). It might appear that the debate is about whether money growth is or is not the key force for driving up inflation (Gali, 17). A country which experience inflation rate of 50% or 100% is also likely to see its money stock grow at about the same rate. High inflation can cause so many problems, for example, because the tax system isn't in agreement with inflation, high inflation without rhyme or reason helps and hurts different sectors of the economy.

In the end, monetary policy is what keeps the United States economy in good condition. With this policy, it allows the fed to control the money supply depending on the economic status of the nation. Therefore, this policy consists of just three tools that is the solution to control the levels of inflation and unemployment in the U.S economy.

Writing Feedback / China, Mexico, USA - "what culture do I identify myself with?" [NEW]

I once said to myself, "what culture do I identify myself with?" I never knew the answer to that question until I was about ten years old. The reason why it took me so long to figure out what culture I identified with was because I was born here in the United States; and here in America there are a lot of immigrants from all over the world such as Mexico, China, Italy and other immigrants that come and settle here. It means that there are a mass majority of cultures that I can identify myself with. I then realized that when I am at home I would talk Chinese to my parents and eat Chinese food. As a matter of fact, I consider myself Chinese American.

I consider myself to be Chinese American because both my parents came to America because of the war in Vietnam. They both have a Chinese accent and speak ok English at the time I was out from my mother's womb. Every dinner time, we would gather around the dining table and eat Chinese foods using chopsticks, which always consist of steam rice and about three different courses of dishes to choose from to eat, like steam fish, chicken marinated with oyster sauce, and it always contains some type of hot soup of the day. My parents would never let me use a spoon to scoop rice into my mouth, but instead to use chopsticks, and she would say, "You are Chinese not American." My parents always wanted me to talk Chinese whenever I'm at home, but I usually combined half English and half Chinese into my conversation when talking to them. Every month we would go to the temple, instead of church because is what my culture does. Therefore, these are some of the things that enrich my cultural identity.

Being an American university student, it is really a good thing for me because I get to experience what is really like to go to school and learn the American way of life. I truly feel as if this is my home within the university I attend. Here at Cal Poly, I feel that I am still at home because of the vast majority of the people I recognize to be from my own culture. Besides, I also meet people from all over the world. One thing that being an American university student, it has taught me so much both in and out of the classroom that has contributed to who I am today, and that I'm Asian-American.

While attending an American school, I feel that I fit in because of the vast majority of people. I can see myself hanging around with because they are people from my own culture. In the same way, I can sometimes talk to some of the students in Chinese because I feel that they are from my culture. Even though, most of the time I have to speak in English because we are in American society and American school. On the other hand, I would usually eat out with friend at an American fast food restaurant, instead of sitting on a dining table eating rice and choosing from three courses dishes.

Looking back at the whole thing, I think that for me I can use what my parents taught me about my Chinese American culture to my kids when I start a family. Being a Chinese American it has taught me so much about both the Chinese and the Americans. Even though Chinese people do different stuff than how the Americans do, I think that in some way we are the same. Being an American university student has taught me a lot about the American culture and my parents have taught me a lot about my Chinese culture.

Writing Feedback / 'the fraternity brothers' - essay [NEW]

Everyone has at least one or more defining moments in their life that can change the direction of their life forever. Whether is graduating from high school, getting a driver's license, getting married or buying a new house. For me, while I have some great moments and some bad moments at time in my life, things haven't change that much. However, I remember one event that did change my life in some way or another. Little did I know that spending little time in the cell would change my life forever.

That defining moment in my life was when I got arrested sometime ago for "Driving under the influences." I was sort of being peer pressure into drinking at a fraternity house, in order to gain respect and being a man and not being known as a sissy (sometime the word can be used as a "fag"). I was trying to be cool and fit into the lifestyle of a typical fraternity's brotherhood, not cause I loved to drink but to be one of them and not being look down at and being a wimp. That being the case, I did one horrible mistake of driving home while I was intoxicated, not only did I drive home, but got arrested for having 0.08 above the legal limit.

After going to jail, stripping naked in front of some men in a black and blue uniform suit, I realized that I was being laughed at behind by back while putting on the black and white clothes that all jail mates must wear. For this reason, something changed in me, I felt like my used to be high self-esteem had just been tossed out the window. I realized that I wasn't supposed to belong in this cell at all! with all the other inmates.

I said to myself "why did I have to listen to those fraternity guys in the first place, I'm not a follower" If I wouldn't have listened I wouldn't end up in this kind of mess.

Looking back at the whole thing, I resolved to make as many changes to my life as possible and not to let other tell me what to do. Now, several months after that night, I look back at my time spent in the jail's cell as the worst years of my life. That one evening, changed my life on who I was/am. Now I met some of the most amazing people other than the fraternity brothers, and to this day I think I am a new person not letting other tell me what to do and saying to myself "make sure you know what you were doing a moment ago, before stepping into a moving vehicle controlled by me."

Research Papers / What subject to choose from for business English class? [2]

HI there,

I am a student at Cal Poly Pomona, as i'm taking a course in english. for our english class we have to write a research paper and we have to "select a subject form your major that interests you," but i am having a very hard time choosing a topic/subject.

My major is in business as an accountant.

please can anyone figure what subject i can do it on.

thank you