In response to the global credit crisis, the United States ...

[ETearle]

In response to the global credit crisis, the United States government took actions that increased economic freedom.
 
  Indicate whether the statement is true or false

Question 2

In a short essay, compare the roles of the Federal Reserve Bank of New York and the European Central Bank.
 
  What will be an ideal response?

[itsakadoozi]

Answer to Question 1

FALSE

Answer to Question 2

The central bank in the United States is the Federal Reserve System (the Fed), a system of 12 regional banks. The New York Fed, representing the Federal Reserve System and the U.S. Treasury, is responsible for intervening in foreign-exchange markets to achieve dollar exchange rate policy objectives and to counter disorderly conditions in foreign-exchange markets. It makes such transactions in close coordination with the U.S. Treasury and Board of Governors of the Fed, and most often coordinates with the foreign-exchange operations of other central banks. The Federal Reserve Bank of New York serves as fiscal agent in the United States for foreign central banks and official international financial organizations. It acts as the primary contact with other foreign central banks.

In the European Union, the European Central Bank coordinates the activities of each member country's central bank to establish a common monetary policy in Europe, much as the Federal Reserve Bank does in the United States.