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Abstract: There are mixed views as to the current state of our economy. Some say that we are headed toward another recession. Some say we are headed toward an economic recovery. While the economic outlook may be bleak for some, the Federal Reserve sees a brighter picture toward our economy’s long-term growth. However, even the FOMC has not been able to place a timetable as to this bright picture’s occurrence. Monetary Policy Paper: Characterizing the state of our economy is a difficult task to say the least. Economic indicators such as residential housing paint a positive economic picture. However, other economic indicators such as consumer confidence paint a more negative economic picture. It is amazing that a company such as Enron can stir such commotion within our economy. Scandals such as Enron’s faulty accounting practices have had a huge impact o