To counter the economic disruption resulting from the 2020 pandemic, the Federal Reserve reduced the commercial bank reserve requirement to 0% instead of

10% in 2019. Please discuss how this Federal Reserve action supported the economic recovery from the pandemic and affected the money supply. In addition, the

Federal Reserve started buying monthly $80 billion of US Treasury bonds and $40 billion of Mortgage Backed Securities. Please discuss how this Federal Reserve action supported the economic recovery from the pandemic and affected the money supply and yields/interest rates.