In response to the banking crisis and economic collapse of 2007 and 2008,the U.S.government moved to increase interest rates in order to attract foreign capital seeking high returns in U.S.banks.

Question

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In response to the banking crisis and economic collapse of 2007 and 2008, the U.S. government actually lowered interest rates in order to stimulate borrowing and spending by consumers and businesses. The goal was to jumpstart economic growth and prevent a further recession.

In Response to the Banking Crisis and Economic Collapse of 2007