ASSIGNMENT

Write a 600-1000 word essay on the follow topic:

Imagine that as a result of the war in Ukraine, sanctions against Russia were scheduled to continue for several years, and in response, Russia significantly limited energy exports to Western Europe. While not directly affecting the United States, this resulted in a severe recession in Europe in 2023 which caused a great deal of uncertainty and turmoil in global markets including US financial markets and the banking sector. In this situation, what are the concerns of the Federal Reserve and what kind of actions could it take? The essay should provide both broad principles and specific examples of how these principles have been applied before. Also, it should take some account of the current economic situation.