A sphere is inscribed inside a hemisphere of radius 2.  What is the volume of this sphere?
[asy]

size(110); dotfactor=4; pen dps=linewidth(0.7)+fontsize(10); defaultpen(dps);
draw(scale(1,.2)*arc((0,0),1,0,180),dashed);
draw(scale(1,.2)*arc((0,0),1,180,360));
draw(Arc((0,0),1,0,180));

draw(Circle((0,.5),.5),heavycyan);
draw(scale(1,.2)*arc((0,2.5),.5,0,180),dashed+heavycyan);
draw(scale(1,.2)*arc((0,2.5),.5,180,360),heavycyan);

dot((0,0)); dot((0,1));
label("$B$",(0,0),SW); label("$A$",(0,1),NE);

[/asy]

Let $A$ be the point on the hemisphere where the top of the hemisphere touches the sphere, and let $B$ be the point on the hemisphere where the base of the hemisphere touches the sphere.  $AB$ is a diameter of the sphere and a radius of the hemisphere.  Thus, the diameter of the sphere is 2, so the radius of the sphere is 1 and the volume of the sphere is $\frac{4}{3}\pi (1^3)=\boxed{\frac{4}{3}\pi}$.