An example of the former is the Fed’s decision to raise interest rates in 1928 and 1929. The Fed did this in an attempt to limit speculation in securities markets. This action slowed economic activity in the United States. Because the international gold standard linked interest rates and monetary policies among participating nations, the Fed’s actions triggered recessions in nations around the globe. â€""The Great Depression," Gary Richardson How did the decision to raise interest rates contribute to the Great Depression? Check all that apply. It slowed economic activity in the United States. It prevented investors from speculating in securities markets. It raised the international gold standard. It caused a recession to spread around the world.