Instructions
Before you begin, read Learning Unit 7 and review the available resources for this module. Next, to help prepare you for the tasks, complete Module Assignment 7. Then, review the assignment guidelines below.
Background
In Modules 5 and 7, you learned about the role of the Fed and the monetary policies it implements to fight recessions and combat inflationary pressures in the U.S. economy. You learned about the effects of expansionary and contractionary monetary policies on the real GDP, employment, and price level. This assignment will focus on the policies the Fed enacted during the Great Recession, the challenges and dilemmas it has faced since the beginning of the pandemic-induced recession, the economic recovery, and rising inflationary pressures.
General Assignment Guidelines
This assignment is divided into three parts and consists of answering at least eight questions after watching the PBS Frontline documentary: The Power of the FedLinks to an external site.
To help, an indication has been made for some of the questions about which part of the movie (the starting minute) the material/information for that question can be found.
Throughout this documentary, references and comparisons are made with the 2007-2008 mortgage and financial crisis, which led to the Great Recession from Dec 2007 to June 2009 and the drastic response of the Fed to prevent the U.S. economy from entering a depression. More than a decade later, the role of the Fed and its challenges in conducting monetary policies to offset the effects of the pandemic recession is still at the center of this documentary.
Specific Assignment Guidelines
To receive full credit (20 extra credit points), you must answer at least eight questions as as indicated.
Download and save the Extra Credit Assignment 3 Questions Download Extra Credit Assignment 3 Questionsdocument and type your answers below each corresponding question as indicated. This will help you keep track of your work.
After selecting which questions to answer, type your responses right below their corresponding questions and number them accordingly.
Copy and paste your numbered responses into your submission.
Be specific and answer each question using at least 3 complete sentences.
Grading will depend on the depth and accuracy of your answers.
Use the ECO2013 Written Assignment Rubric as a guide for exemplary work criteria.
Resources
You will want these resources available for reference to complete your assignment.
The Power of the FedLinks to an external site.
Federal Reserve Press ReleaseLinks to an external site.
Atlanta Fed’s Bostic: We expect volatility in the next few monthsLinks to an external site.
Atlanta Fed’s Bostic: Inflation can be a sign of a healthy economyLinks to an external site. |TranscriptDownload Transcript
Cleveland’s Fed’s Mester: Economy will need policy support for a whileLinks to an external site. |TranscriptDownload Transcript
The Atlanta Fed Explains InflationLinks to an external site.
