Question $34$

$5$ pts

In $2821-2022,$ the U$.$S$.$ economy was experiencing For this reason, the FOMC the target range for the federal funds rate several times during $2822$ by the end of the year. As signs that inflation was normalizing were evident by the first part of $2023,$ the Fed's $$ monetary policy implemented throughout $2822$ had $$

high inflation; decreased; up to $4\mathrm{.}25-4\mathrm{.}5\%$; expansionary; the intended consequence

high inflation; increased; up to $4\mathrm{.}25-4\mathrm{.}5\%$; contractionary; the intended consequence

high inflation; increased; by $0\mathrm{.}5\%$ at each consecutive meeting; contractionary; not worked as intended

None of the above