Essay Question 2: Innovations in Monetary Policy in Response to Economic Crises The global financial crisis of 2008 and the subsequent economic downturns have prompted central banks around the world to adopt innovative monetary policy tools beyond traditional interest rate adjustments. Examine the role of quantitative easing and forward guidance as part of the central banks' policy toolkit. Discuss the theoretical basis for these tools, their implementation during economic crises, and their impacts on economic recovery. Evaluate the effectiveness of these innovative policy measures, including their advantages and potential drawbacks