1. What are some of the steps that the Federal Reserve took in 2008 to prevent f

Question

1. What are some of the steps that the Federal Reserve took in 2008 to prevent further contractions of the economy and money supply?

2. What were the banks' reactions?

3. How can these actions be compared to the events that occurred between 1929 and 1933? Describe and compare the goals of each monetary policy.

4. After reading the current statement of the Federal Open Market Committee, is there any mention of current dissent on which strategies are appropriate to apply to today's economy?

5. What faults did you find in the government's handling of the Great Depression?

6. Do you believe the Federal Reserve is acting appropriately in regards to our current financial situation? Why or why not?

Explanation / Answer

1. What are some of the steps that the Federal Reserve took in 2008 to prevent further contractions of the economy and money supply?

The U.S. central banking system, the Federal Reserve, in partnership with central banks around the world, took several steps to address the subprime mortgage crisis. Federal Reserve Chairman Ben Bernanke stated in early 2008: "Broadly, the Federal Reserve

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