In response to the Great Recession, the Federal Reserve took drastic and largely untested measures to stabilize both the financial system and the macroeconomy. These measures caused the monetary base to increase from approximately $850 billion to over $4 trillion. What would an economist from each of the following viewpoints—classical, Keynesian, monetarist, real business cycle, Great Moderation consensus, inflation bears, and secular stagnationists—predict about the effect of these policies, and why? Indicate whether each school would support the Fed’s actions.