In 2001, the FOMC reversed course, and between the beginning of 2001 and mid-2003, the FOMC _____ the interest rate from _____ to _____.
A) raised; 1 percent; 6.5 percent
B) raised; 4.75 percent; 6.5 percent
C) lowered; 6.5 percent; 1 percent
D) lowered; 6.5 percent; 4.75 percent
E) raised; 1.0 percent; 5.25 percent

Question

Quizplus · Accepted Answer

The Federal Open Market Committee (FOMC) lowered the interest rate from 6.5 percent to 1 percent between the beginning of 2001 and mid-2003 to stimulate the economy.

In 2001, the FOMC Reversed Course, and Between the Beginning