The March 2020 onset of the COVID-19 recession precipitated an unparalleled fall in economic activity throughout the planet. To combat recessions, central bank policymakers employed various expansionary monetary policies. Through a literature study, the paper focuses on a discussion of the monetary policies adopted by the Federal Reserve of the United States. This paper examines three basic areas of monetary policy: regulatory changes led by the Federal Reserve, interest rate changes, and loan and asset acquisitions or quantitative easing. The study not only provides a full explanation of the adopted policies, but also takes a critical and objective look at the overall currency policies adopted by the Federal Reserve of the United States. Following an economic downturn, the report concludes that the Fed's measures were effective in commencing a period of economic recovery for the nation.