Consider this excerpt from the textbook: "In the fall of 2007,it was clear that the U.S.economy was slowing.The unemployment rate rose from 4.4% to 5% between May and June 2007,and real GDP grew by just 1.7% in the fourth quarter.The U.S.economy officially entered recession in December 2007.We now know that the nation's economy was entering several years of low growth and high unemployment.Many economists believe that a decline in aggregate demand was one cause of the recession." What did the Federal Reserve do in response to this decline in aggregate demand?

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The Answer of Consider this excerpt from the textbook: "In the fall of 2007,it was clear that the U.S.economy was slowing.The unemployment rate rose from 4.4% to 5% between May and June 2007,and real GDP grew by just 1.7% in the fourth quarter.The U.S.economy officially entered recession in December 2007.We now know that the nation's economy was entering several years of low growth and high unemployment.Many economists believe that a decline in aggregate demand was one cause of the recession." What did the Federal Reserve do in response to this decline in aggregate demand?

Consider This Excerpt from the Textbook: "In the Fall of 2007,it