Please write the essay. The topic is define the monetary policy and discuss the operation of monetary policy in the united states post global financial crisis.

Define and discuss monetary policy in general.

Discuss in detail US monetary policy in the aftermath of 2008 GFC.

For the essay of monetary policy, about a third of the market are for basis of what monetary policy is, who conduct it , how its implemented etc. The remainder of marks are for discuss of the FED response to GFC eg. getting interest rate down to 0.25,thereby making monetary policy fairly ineffective after that, then need to follow the Quantitative Easing approach, and finally the scaling back of the Quantitative Easing program by Janet Yellen.

Quantitative Easing - scaling back of the QE program by janet yellen