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 policy makers to prevent future economic or financial crises.
