In the thesis, I argue, about the different strategies and paths that were chosen by two huge central banks: The European Central Bank (ECB) and The Federal Reserve System (FED), to handle the Great Recession in 2007-2009. I will analyze and talk about what happened during the Great Recession. I discuss how everything started, also what was the main reason for the economic downturn. Here is shown the different approaches that were chosen by those central banks and make a comparison of their actions. New tools were required and I will consider the changes that occurred in those central banks, in response to The Great Recession.