Based on the graph, and focusing on the years 1970 to present (change the sliderto see the graph better),? Is there any relationship between the FFR and economic growth? When theeconomy slows down and is in a recession, how does the Fed usually respondWhat about during years of economic recovery? Are there any time periodswhen this does not seem to occur?? Is this how we would expect the Fed to respond given its mandates?

20.0 17.5 15.0 12.5 Percent 10.0 Oct 1970: 6.20 7.5 5.0 2.5 0.0 1960 1980 2000 2020 11 2000