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the speakers say when necessary, the FOMC changes monetary policy primarily by raiing or lowering its target for whats called the federal reserve funds rate,
the speakers say "when necessary, the FOMC changes monetary policy primarily by raiing or lowering its target for whats called the federal reserve funds rate, or the interest rate for overnight borrowing for banks." The speaker then describe what easing and tightening of monetary policy means. Based on these descriptions, we should expect the FOMO to:
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