Project #159665 - economic

Business Tutors

Subject Business
Due By (Pacific Time) 12/09/2016 12:00 am

Two writing assignments on the Great Recession and the Federal Reserve. Write a maximum of 2 pages (minimum of a page) on each topic by answering the specific questions. 1. The Great Recession (Refer your text book and/or any other source)  Briefly discuss the causes of the Great Recession. When did the recession occur?  Mention some of the banks that failed. What does ‘bailing out the banks’ mean?  What is the difference between the financial crisis and the recession?  What policy did the US government use to combat the recession? What policy did the Federal Reserve use to combat the recession?  Why is it termed as a recession, and not a depression? 2. The Federal Reserve (Refer your text book, federalreserve.gov and/or other sources)  When was the Federal Reserve created and why?  Federal Reserve is considered as the ‘lender of the last resort’. Why?  Who owns the Federal reserve? OR is the Fed an independent body?  What is the duty of the Federal Open Market Committee?  Mention the last three Chairpersons of the Federal Reserve including the current chair.

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