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Which of these actions of the Federal Reserve can slow economic growth?

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The Federal Reserve can increase the discount rate in order to increase the interest rates. This drives people to save their money rather than to spend.

When people save money and spend less, the supply of money in the market decreases. Thus, businesses cannot perform well because people no longer spend as much on goods and services. This can eventually cause employment problems if businesses will decide to employ less people or not hire more people. All these would then lead to a slower economic growth.
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