; (B) evaluate various operational regimes under which the Board of Governors of the Federal Reserve System and the Federal Open Market Committee may conduct monetary policy in terms achieving the maximum sustainable level of output and employment and price stability over the long term, including— (i) discretion in determining monetary policy without an operational regime; (ii) price level targeting; (iii) inflation rate targeting; (iv) nominal gross domestic product targeting (both level and growth rate); (v) the use of monetary policy rules; and (vi) the gold standard; (C) evaluate the use of macro-prudential supervision and regulation as a tool of monetary policy in terms of achieving the maximum sustainable level of output and employment and price stability over the long term; (D) evaluate the use of the lender-of-last-resort function of the Board of Governors of the Federal Reserve System as a tool of monetary policy in terms of achieving the maximum sustainable level of output and employment and price stability over the long term; (E) recommend a course for United States monetary policy going forward, including— (i) the legislative mandate; (ii) the operational regime; (iii) the securities used in open-market operations; and (iv) transparency issues; and (F) consider the effects of the GDP output and employment targets of the dual mandate (both from the creation of the dual mandate in 1977 until the present time and estimates of the future effect of the dual mandate ) on— (i) United States economic activity; (ii) actions of the Board of Governors of the Federal Reserve System