Prior to the mortgage debt crisis, the most frequently employed monetary policy tool was

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Prior to the mortgage debt crisis, the Federal Reserve primarily used open-market operations as the main monetary policy tool. This involved buying and selling government securities in order to control the supply of money in the economy. The use of raising the reserve ratio, raising the discount rate, and raising the prime interest rate were also used, but were not as frequently employed as open-market operations.

Prior to the Mortgage Debt Crisis, the Most Frequently Employed