Question: From September 2007 through April 2008, the Fed believed that interest rates needed to fall and took steps to reduce them, eventually cutting the federal

From September 2007 through April 2008, the Fed believed that interest rates needed to fall and took steps to reduce them, eventually cutting the federal funds rate from 5.25 percent to 2.0 percent. How did the Fed reduce the federal funds rate? Illustrate your answer on a diagram.

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