Suppose the economy is experiencing inflationary pressure because of rising food and energy costs at the same time that it is slipping into a recession because of cutbacks in defense spending. As the chairperson of the Board of Governors, how would you balance the attention you give to these two problems and what recommendations concerning the tools of monetary policy would you make to solve them? Would it make sense to use monetary policy to solve one of the problems while asking Congress to use fiscal policy to solve the other?