Which monetary policy tool can the Federal Reserve use to conduct an expansionary monetary policy (please state at least one instrument)? Which monetary policy instrument can the Fed use to conduct a restrictive monetary policy? Assume the country is experiencing high unemployment and a recession, such as during 2001, 2008-2009, and 2020. What is the Fed likely to do in this scenario? Discuss the effects of such policy on the economy. Can you give a specific example to what the Fed did during any of those recessions?   This is not a writing, it is economic.

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