In the latter part of 2001,the Fed cut the federal funds rate several times.The Fed's purpose was to:

Question

Quizplus · Accepted Answer

The purpose of the Fed cutting the federal funds rate several times in the latter part of 2001 was to stimulate economic growth. By reducing the federal funds rate, the cost of borrowing decreases for banks, which in turn lowers borrowing costs for businesses and individuals seeking loans. This encourages spending and investment, which can help boost economic activity.

In the Latter Part of 2001,the Fed Cut the Federal