During what has become known as the Great Recession,the Fed began to purchase the assets of member banks.This new monetary control mechanism used by the Fed was known as

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Quantitative easing is a monetary policy whereby the central bank purchases government bonds or other financial assets in order to inject liquidity into the economy and encourage lending and investment. This was a measure taken by the Fed during the Great Recession in order to stimulate economic growth and prevent deflation.

During What Has Become Known as the Great Recession,the Fed