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Federal Reserve: Unconventional Monetary Policy Options (CRS report)

In the aftermath of the financial crisis of 2007-2008, the Federal Reserve (Fed), with Ben Bernanke as its chairman, had reduced the federal funds rate to a range of 0 percent to 0.25 percent by December 2008, exhausting its conventional monetary tool. With the economy still exhibiting large amounts of slack and recovery prospects weak, the Fed experimented over the next few years with unconventional policies in an attempt to revive the economy.

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