From Dec. 2008 to Oct 2014 the Fed engaged in three rounds of quantitative easing. What was the primary reason that the Fed implemented this unconventional monetary policy?

Group of answer choices

Long-term treasury bond interest rates were already near 0%, and the Fed needed new tools to stimulate economic growth.

There were not enough government bonds outstanding to pursue conventional monetary policy.

Short-term treasury bill interest rates were already near 0%, and the Fed needed new tools to stimulate economic growth.

Conventional monetary policy tools have longer implementation lags than quantitative easing