Macroeconomics: Events and [deals End of Chapter Problem ID. In response to the Great Recession, the Federal Reserve had to take drastic and largely untested measures to stabilize both the nancial system and macroeconomy. These measures caused the monetary base to increase from approximately $350 billion to over $4 trillion. Indicate whether each school {classicaL Keynesian, monetarist, real business cycle, Great Moderation consensus+ and postGreat Recession consensus} 1would support the Fed's actions. Would support Fed's actions Would not support Fed's actions E- .L'-.n5I.'.I-sr E: Brill