On 18 September 2019 the Federal Open Market Committee decided to lower the target range for the federal funds rate to 1.75 -2 percent. In your opinion, what were the main factors that have led the committee to this outcome? And how do you think it would affect the monetary base and money supply? Clearly explain your position

b. In March 2020 the Federal Reserve. reduced the reserve requirements to 0 %and on 17 March 2021, the Federal Reserve announced it wouldcontinue to increase its holdings of Treasury securities by at least $80 billion per month. Using the quantity theory of money, explain the long-term implications of this policy.