7. During the Great Recession, a new tool called easing enabled the Fed to buy securities from private banks. 8. Training of the unemployed and other fiscal policies played a major role in the economy. B. Economics and Politics Today Main Idea: Economic policies and theories are born out of the conditions of their time. As conditions change, new economic and political policies may be formulated to address these new situations. 1. The baby will pose new economic challenges as they begin to 2. The of Economic Advisers devises economic strategies and advises the on economic matters. 3. Economic help economists and politicians understand and analyze the economy