Měnová politika Federálního rezervního systému jako faktor vzniku Velké deprese a Velké recese v USA

This bachelor thesis is about monetary policy of Federal Reserve System during the Great Depression and the Great Recession. The main focus is on the possible causes of these economic downturns and the role of the Fed in their creation. The first part of the thesis deals with monetary policy itself. It describes the monetary tools and aims with a focus on Federal Reserve. The second part is about the Fed, its genesis and its role in both time periods. The third and fourth part of the thesis describes the course and origin of both economic crises. Both parts are concluded with the views of economists from various economic schools. The last chapter is dedicated to systematic comparison of both crises. The emphasis is primarily on monetary policy which makes it possible to falsify the hypothesis that the monetary policy of Federal Reserve contributed significantly to the genesis and further development of both crises. The Federal Reserve had a greater role in creation and especially in further development of the Great Depression. However, the Fed learned from its mistakes and made several decisions significantly better during the Great Recession. Yet its functioning was not flawless, mainly due to low interest rates setting leading to the growth of the real estate bubble.