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If the Fed thinks that inflationary pressures are currently building up and the economy is in a boom, then (a) what will the Fed conventionally

If the Fed thinks that inflationary pressures are currently building up and the economy is in a boom, then (a) what will the Fed conventionally do to lower the inflationary pressures and dampen the economy. Also, (b) explain thoroughly how its policy action can achieve its desired outcomes, using the three transmission mechanisms

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