When we studied the section of the PowerPoint that talked about the history of the Fed and the related audio-visual lecture, what was the big deal about October 1979? Multiple Choice That was the year that the first Star Trek movie was released and it was simply called, "Star Trek The Motion Picture." The Fed decided to reduce the amount of U.S. dollars (money supply) floating around in other countries. The Fed shocked Congress by telling them they were going to shrink the U.S. money supply to fight high inflation and that Congress could no longer depend on the Fed to simply print up the extra money they wanted like the Fed did for most of the 1960s/1970s. The Fed decided to greatly expand the money supply back then to fight inflation (Ms > GDP)