Evaluate the actions that the Federal Reserve and the government took during this period of 2007-2009. Do you support their actions, in both monetary policy and fiscal policy? Why or why not?

One of the actions undertaken by the government and the Federal Reserve during the 2007-2009 financial crises is the offering of loans at lower interest rates to financial institutions. Such an action helped maintain money supply and circulation and thus maintained economic activities. Issuing loans to these institutions at lower interest rates meant that the financial institutions should also offer loans to customers at lower interest rates. This was meant to increase the money supply and spending within that period.

Another action was to provide liquidity to the banking and other related financial institutions. This was done through the purchasing of banks and other financial institution's failing assets and encouraging the banks to hold their reserves and maintain their value.

The monetary policy is a strategy undertaken by the central banks to regulate and control money circulation and supply within specified periods. On the other hand, the fiscal policy is a strategy undertaken by the government of a particular country to regulate government spending and tax rates within the country at a given period.

Yes, I support their action in monetary and fiscal policies because they are the most effective approaches that have been effective in increasing money supply, maintaining economic activities, and increasing consumer spending. The policies also effectively controlled and prevented a further economic and financial recession, and they stimulated economic growth.