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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

The Fed has announced a new, lower target for the federal funds rate; in other words, the Fed wants to lower the federal funds rate from its present level. What does setting a lower target for the federal funds rate have to do with open market operations?

To determine

Federal funds rate and open market operations.

Explanation

When the federal funds rate is given a lower target, it implies that Fed has to purchase securities in the open market operations. The purchase of securities increases the ...

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