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The answer is option d. The Federal Reserve would reduce the money supply to stabilize output.
What does the Federal Reserve do, and why was it established?
The central bank of the United States is known as the Federal Reserve System. The main goal of the Federal Reserve, which was established in 1913 by an act of Congress, was to increase the stability of the American financial system.
The Board of Governors, which has its headquarters in Washington, D.C., is the Federal Reserve System's governing body. It is governed by seven people, known as "governors," who are chosen by the American president and confirmed in office by the US Senate.
The Reserve Banks, which are spread out over Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco, are decentralized by design.
To know more about Board of Governors please click here https://brainly.com/question/25717013
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