This, however, does not absolve individual nations and communities within nations from making efforts on their own behalf. In fact, the whole concept of development means increased self reliance and increased choices for individuals, communities and nations. For the individual citizens of the OECS this means acquiring education, skills and attitudes which makes us marketable in a global economy.
In both cases, as you know, the Fed eased policy significantly to support real activity. In particular, in 2001 the Federal Open Market Committee lowered the federal funds rate target by 475 basis points in a period of just under a year.