In order to recapitalize banks during the 2007-2009 financial crisis, the Federal Reserve shrank the monetary base.

Name: In order to recapitalize banks during the 2007-2009 financial crisis, the Federal Reserve shrank the monetary base.
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To recapitalize banks during the financial crisis, the Federal Reserve actually increased the monetary base through various measures including quantitative easing and purchasing troubled assets from banks.

In Order to Recapitalize Banks During the 2007-2009 Financial Crisis