Question

As discussed in the course, the U.S. Economy passed through what has now come to be known as 'The Great Recession'. The government and the Federal Reserve responded with different fiscal and monetary policies. Identify these Monetary and Fiscal policies implemented by the Federal Reserve and the government to deal with the recession. Evaluate the expected and actual effects of each policy. Your response needs to include the name of the policy, a description of the policy, the year it is implemented, and a discussion of expected and actual outcomes in terms of the GDP, unemployment, and inflation rates.