[Related to the Making the Connection on page 1063] In an opinion column in the New York Times, economist Justin Wolfers of the University of Michigan noted, “Over recent years, policy makers have...

[Related to the Making the Connection on page 1063] In an opinion column in the New York Times, economist Justin Wolfers of the University of Michigan noted, “Over recent years, policy makers have also worked to lower long-term interest rates by shaping expectations about future monetary policy decisions.” a. What does the Fed call such an attempt to shape expectations of future policy decisions? b. Briefly explain how this approach works.