With reference to the table and graph below, explain one factor that the Federal Open Market Committee (FOMC) of the US Federal Reserve may have considered when aggressively reducing the target interest rate between September 2007 and December 2008.
| Date | Target Interest Rate (%) |
|---|---|
| 1 September 2007 | 5.25 |
| 18 September 2007 | 4.75 |
| 30 January 2008 | 3.00 |
| 30 April 2008 | 2.00 |
| 8 October 2008 | 1.50 |
| 16 December 2008 | 0.25 |
