You have just been elected president of the United States, andthe present Chair of the Federal Reserve Board has resigned. Youneed to appoint a new person to this position, as well as a personto chair your Council of Economic Advisers. Using your knowledge ofmacroeconomics, identify the personal characteristics and the viewson macro theory and policy you would want your appointees to haveand implement.Ă‚Â Ă‚Â Remember, the economic health of theentire nation and solution to keeping the economy growing will beimpacted by this decision.
As you know, during the Great Recession, the Fed proposed anumber of \"bail out\" measures to address the “great recession”. Inthe second part of your paper, indicate why or why not you wouldrecommend that your new appointee use similar measures if thissituation arises again. Should the Fed have a bond-buying program?Identify any new policies that you would like your candidate tofollow.
