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Assume that the Eurozone begins coming apart with multiple countries defaulting on their Euro-denominated debt and abandoning the Euro to adopt their own currencies. Because

Assume that the Eurozone begins coming apart with multiple countries defaulting on their Euro-denominated debt and abandoning the Euro to adopt their own currencies. Because the US economy is connected to Europe, this threatens to send the US into a recession and significantly disrupt financial markets.

What are the responsibilities of the Federal Reserve and broadly, what actions should it take?

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