Yes, the federal government responded to the great recession of 2007-09.
<u>Explanation:
</u>
The United States endured the most serious post-war depression between December 2007 and June 2009.
The economic crisis of 2007-09 was long enough to call itself the "Great Recession" and accompanied by a lengthy and exceptionally slow recovery. The financial crisis was deep and severe enough.
The subsequent recessions have been followed by two types of policy mechanisms: monetary and fiscal.
Monetary policy is used to preserve low-interest rates and reduce unemployment both during and after depression, which is the Act regarding the Federal Reserve
.
