The 2001-2007 economic expansion began when a change in Federal Reserve policy and other global conditions caused interest rates to drop and stay low.

Question

Quizplus · Accepted Answer

This statement is true. The Federal Reserve lowered interest rates in response to the 2001 recession and kept them low for an extended period, contributing to the economic expansion that lasted until the 2008 financial crisis. Other global conditions such as strong global growth and low oil prices also supported the expansion during this period.

The 2001-2007 Economic Expansion Began When a Change in Federal