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Module 8 Discussion essay: Federal Reserve Banking SystemEcon 211Locate a recent article (published within the last year) that discusses the objectives of the FederalReserve Banking System, monetary policy tools and how they work, and whether the Federal Reserve Banking System is using expansionary or contractionary monetary policy. You can use the Hunt Library, newspapers, new stations, or other credible sources to locate an article. Analyze the article and then provide the following in your discussion.Define the term monetary policy tools. Explain how each monetary policy tool is used. Provide an example of a real-life application in which the Federal Reserve Banking System would use contractionary monetary policy over expansionary monetary policy. Discuss which monetary policy is used most often and why. Summarize your findings using at least 250 words and provide a minimum of one reference. Use current APA formatting to document your sources.