The Federal Reserve expanded their traditional tools set in the 2007-2009 recession to include

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The Federal Reserve expanded their tool set to include the purchase of mortgage backed securities as a way of injecting liquidity into the mortgage market and lowering long-term interest rates. This was known as quantitative easing and was a key part of the Fed's response to the 2007-2009 recession. The other options listed are not traditionally within the purview of the Federal Reserve's responsibilities.

The Federal Reserve Expanded Their Traditional Tools Set in the 2007-2009