Match the reasons why the effects of expansionary monetary policy were limited during each u.s. recession.
ï‚§ Great Recession
ï‚§ Monetary policy was mostly expected by the public
ï‚§ New bank regulations meant the downturn was at least partially due to a shift in long-run aggregate supply
ï‚§ Monetary policy is ineffective in the long run. ï‚§ The Fed did little proactively to offset the fall of the M2 money supply.
ï‚§ Massive bank failures and money held outside of the banking system resulted in a reduced money multiplier.