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What are some reasons the Fed may change interest rate targets? Why did the Fed cut interest rates sharply in the Great Recession and again

What are some reasons the Fed may change interest rate targets? Why did the Fed cut interest rates sharply in the Great Recession and again in early 2020? What is the Fed's current interest rate policy and what connection does this strategy have with current economic conditions? What are the mandates of the Federal Reserve and how does interest rate policy help the Fed achieve these mandates?

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