Since its revival in the 80's, Monetary Policy's role and importance never ceased to grow and has reached new heights with the globalization and interconnection of financial markets. The Federal Reserve, guardian of the U.S. monetary policy, has two contrasting goals: ensure price stability and full employment. In 2007, the monetary institution was put to the test with the emergence of the global financial crisis. The Federal Reserve responded by lowering interest rate to near zero rates and when that wasn't enough it relied on discretionary unorthodox measures. This book, starts by providing an analysis of the Global financial Crisis and the actions taken by the Federal Reserve to combat it.It later goes on to combine a theoretical analysis with an empirical study of the past financial crises and the present one in order to determine the implications of the global financial crisis on the U.S. Monetary Policy in the short and medium run.