~ I have to write an essay on the Fed Banks. It has to involve these 3 steps and they must be explained in complete sentences. I really do not know where to begin..
( 1. Changing Reserve Requirements.
2. Changing the Discount Rate
3. Open-Market Operation. )

Does anybody understand this anymore than I do? x_x;

1. What 3 steps would the fed take if Inflation were 10%? Describe the effect on $ supply.

2. What 3 steps would the fed take if the US were in a recession? Does it effect the $ supply?

Question

~ I have to write an essay on the Fed Banks. It has to involve these 3 steps and they must be explained in complete sentences. I really do not know where to begin.. 
( 1. Changing Reserve Requirements.
  2. Changing the Discount Rate
  3. Open-Market Operation. )

Does anybody understand this anymore than I do? x_x;

1. What 3 steps would the fed take if Inflation were 10%? Describe the effect on $ supply.

2. What 3 steps would the fed take if the US were in a recession? Does it effect the $ supply?