Read the Federal Open Market Committee statement released following their meeting on 11-12 June 2024. Use the blank graph below to draw and annotate an ADAS model that represents: 1. The current performance (inflationary, recessionary, healthy/full employment) of the US economy, as explained by the FOMC statement. a. Annotation #1: explain how the current state of rGDP is represented on the model; b. Annotation #2: explain how the current unemployment rate is represented on the model; c. Annotation #3: explain how the current inflation rate is represented on the model. Briefly describe the decision taken by the FOMC with regard to monetary policy.

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