A worldwide recession reduces the amount of U.S. exports, and as a result, aggregate demand decreases. To move U.S. GDP back to potential GDP, the Fed should

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Lowering the federal funds rate would make borrowing cheaper, leading to an increase in consumption and investment spending, ultimately increasing aggregate demand and potentially moving U.S. GDP back to potential GDP. Raising the federal funds rate or decreasing the quantity of money would have the opposite effect, further decreasing aggregate demand. Increasing the government's budget deficit would only be effective if the deficit spending was targeted towards increasing aggregate demand.

A Worldwide Recession Reduces the Amount of U