When did the Fed fail to engage in a pre-emptive strike to keep the economy at or near the natural rate of unemployment?

Open market operations are defined as

A) a bank borrowing from the Fed. B) the buying and selling of securities by the Fed. C) the buying and selling of securities between banks. D) the amount banks can lend on each deposit. E) a bank making a loan to the Fed.

During a recession

A) incomes rise and employment decreases. B) incomes fall and unemployment increases. C) incomes fall and unemployment falls. D) incomes rise and unemployment increases.