Between March 2001 and November 2002,the Fed reduced the federal funds rate from 5 percent to just above 1 percent.The Fed's purpose was to:

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The Fed's purpose behind reducing the federal funds rate from 5 percent to just above 1 percent between March 2001 and November 2002 was to promote recovery from recession. By lowering the cost of borrowing, the Fed aimed to stimulate economic activity and increase consumer and business spending, thereby boosting the overall economy. The move was seen as crucial in mitigating the impact of the 2001 recession on employment, output, and overall economic growth.

Between March 2001 and November 2002,the Fed Reduced the Federal