The Federal Reserve used many practices in the US central bank

From 2007 to 2010, the Federal Reserve used many practices unfamiliar to the
U.S. central bank. Respond to the following components as an economist representing
either the classical or Keynesian school:

Evaluate critically, as a classical or Keynesian economist, what caused the 2007 to 2009 financial crisis.
Examine the causes that aggravated the financial crisis during the period?
Evaluate the actions that the Federal Reserve and the government took during this period. Do you support their
actions in both monetary policy and fiscal policy? Why or why not?
Recommend an alternative policy or method that could have better resolved the financial crisis if you were a
decision-maker (of monetary policy or fiscal policy) during the period.
Give advice, as a prominent classical or Keynesian economist, to the Federal Reserve and/or federal
policymakers to prevent future economic or financial crises.

Sample Solution

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