GED Reasoning Through Language Arts Quiz
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PASSAGE
The Federal Reserve, often called 'the Fed,' is the central bank of the United States. One of its primary responsibilities is to conduct monetary policy to achieve two key goals: maximum employment and stable prices (i.e., controlling inflation). To do this, the Fed has several tools at its disposal, the most well-known of which is adjusting the federal funds rate. This is the interest rate at which banks lend to each other overnight. By raising this rate, the Fed can cool down an overheating economy to fight inflation. Conversely, by lowering the rate, it can stimulate economic activity to combat a recession.
Which statement best summarizes the main idea of the passage?
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