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Rich received an internship offer to work for the town where he plans to live once he graduates. he was excited to accept it but isn't able to start until the paperwork is in order. his classmates began their internships the week before, and Rich is getting very anxious. the legal placement agreement between the campus and internship site has not yet been signed and returned by all the parties (the student, the site supervisor, the academic program faculty, and the career services representative). concerned that the internship site will stop honoring the verbal agreement made last semester to accept him as an intern, Rich reached out to the career center to determine the status of that placement agreement. the career center representative in turn reached out to the internship site for clarification; however, because of back and forth communication, there has been some confusion about its status. Rich is afraid that the internship will no longer be an option for him, and he is lost as to where to go for assistance.
Problem 1: What are Rich's next steps?
Problem 2: Before answering that question, think about his situation in terms of the four guiding questions: What? So What? Now What? Then What?
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
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