Describe the major problems of the “Great Recession.

1. Describe the major problems of the “Great Recession.” What required immediate government action, from the perspective of many public officials?
2. Monetary policy: Describe how the Federal Reserve respond to the crisis. Be sure to discuss interest rates and open market operations.
3. Fiscal policy: Describe Congress’s response to the crisis. Be sure to discuss the American Recovery and Reinvestment Act of 2009.
4. Explain the goals of the fiscal and monetary policies employed. Address “stimulating aggregate demand” and the role of “increasing the money supply” in your response.
5. Evaluate the success in the policies.

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