Referring to past economic downturns, such as the Great Recession of 2008-2009, plan to address the following issues that are important for junior staff members with limited training in macroeconomic issues or policy to understand:

• Background and context of the recession beginning in 2020, addressing anticipated effects on:
  • Components of Aggregate Demand
  • Multiplier Effects of Changes in Expenditure
• Describe appropriate policy responses, including:
  • Four Tools of Monetary Policy
  • The Dual Mandate of the Federal Reserve