Before we learn about monetary policy, we will focus on the importance of the Federal Reserve and the functions of money. Ensure to read Chapter 14 before submitting your discussion post for this wee

Before we learn about monetary policy, we will focus on the importance of the Federal Reserve and the functions of money.  Ensure to read Chapter 14 before submitting your discussion post for this week.

Part I:  Who is the current chairman of the Federal Reserve?  Who was the previous chairman of the Federal Reserve?  What are some of the roles that the Federal Reserve?  This part of the discussion must be at least 5 sentences.   Please properly cite any referenced material, even if it is your textbook.

Part II:  A common tool that is now used to buy and sell goods/services is the bitcoin. Research the bitcoin.  What is a bitcoin?  Is it considered money (as defined by the terms of economics)?  Find an article that expounds on the popularity of the bitcoin and how it is used in society.  This part of the discussion must be at least 8 sentences in length.  Ensure to include proper APA documentation and also include the URL in your post.

Part III:  Reply to two classmates’ posts for Part II.  Ensure to discuss the popularity of the bitcoin and even your personal usage of the bitcoin.  This part of the discussion must be at least 6 sentences in length (for each response).