content area top Part 1 The Fed conducts an open market purchase of securities. What are the effects of this action on the nominal interest rate in the short run and the value of money in the long run? Question content area bottom Part 1 In the short run, the nominal interest rate _______. In the long run, the value of money _______. A. falls; rises B. rises; rises C. rises; falls D. falls; does not change E. falls; falls