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Federal Reserve response to the Great Recession In the same article on Nov 25, 2008, the New York Times reported: In the first of
Federal Reserve response to the Great Recession
In the same article on Nov 25, 2008, the New York Times reported: "In the first of two new actions announced on Tuesday, the Treasury and the Fed said they would create $200 billion program to lend money against securities backed by car loans, student loans, credit card debt and even small-business loans." Please explain the rationale(s) for this policy.
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