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9/11 legacy includes effect on housing boom and bust

In the months after the attacks of Sept. 11, the Federal Reserve took a series of steps to lower overnight interest rates in order to ensure the tenuous economy didn’t tip back into recession. The economy, still recovering from the dot-com bust and dealing with the psychological effects of the attacks, needed to be propped up in the form of easy money, according to Chairman Alan Greenspan and the rest of the Fed.

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