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President Biden calls the chairman of the Fed and asks them to reduce short term interest rates by 1/4%. To be polite, the Fed chair

President Biden calls the chairman of the Fed and asks them to reduce short term interest rates by 1/4%. To be polite, the Fed chair says they will think about it; however, the Fed Chair actually ignores Biden's request. At the same time, the US Congress votes to recommend a 1/2% decrease in short term interest rates. At the same time, the FOMC votes to change the money supply to immediately increase short term rates by 3/4%. What will probably happen to short-term interest rates in the US, assuming the Fed's authority is not changed? a. decrease by 1/4% b. Increase by 3/4% c. Decrease by 3/4% d. Not change. e. It can not be determined

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