Which is the most accurate statement? ( LO9 )

a) The Fed’s actions in dealing with the 2008 fi nancial crisis may encourage future risky fi nancial behavior, since a future crisis will be met with another bailout.

b) Although the Fed managed to avert a fi nancial meltdown in 2008, it will not have the resources to deal with future fi nancial crises.

c) The Fed was not at all responsible for the recent housing bubble.

d) From a long-run perspective, the massive fi nancial bailout carried out by the Fed did much more harm than good.