3B) Read the speech of the Fed Chairman Ben Bernanke he delivered on Oct 18, 2011 at the Federal reserve bank of Boston, which is available at this url link http://www.federalreserve.gov/newsevents/speech/bernanke20111018a.htm
After reading the contents of his speech topic, “The Effects of the Great Recession on the Central Banks’ Doctrine and Practice”, critically and briefly analyze the direction of changes in monetary policy practice of the Federal Reserve from its conventional monetary policy framework in the wake of the great recession the US economy currently faces. 5 pts
Alternatively (for 3.b),
3.b. Read the following two news analysis on the effect of monetary policy actions on November 30, 2011 by China on the global market, including US stock market. Based on your knowledge on monetary actions and its impact on the economy, briefly analyze the connection between the reduction of reserve requirement by China’s central bank and its economy plus the economy of the rest of the world, including the US economy.
http://money.cnn.com/2011/11/30/markets/markets_newyork/index.htm
http://money.cnn.com/2011/11/30/news/international/china_reserve_requirement/index.htm?iid=EL
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