Did the federal reserve pursue
an expansionary or a contractionary monetary policy?

Expansionary Monetary Policy is pursued by Federal Reserve.

Explanation:

Expansionary Monetary is a macroeconomic policy which takes an action on economic growth of the country. Expansionary policy can be either monetary policy or fiscal policy or combination of both. Its increases the money supply, boosts aggregate demand and lowers the interest rates.

It deters the contractionary phase of the business cycle. It’s even included that policy’s purchases of government securities and reduction in the ration of reserves, the other point is discount rate decreases.

explanation:

with the profits from the european sales, merchants purchased europe's manufactured  goods, including tools and weapons. then the merchants shipped those manufactured  goods, along with the  american  sugar and rum, to west africa where they were bartered for  slaves.

in an absolute  monarchy, the  monarchrules as an autocrat, with absolutepower  over the state and government — for example, the right to rule by decree, promulgate laws, and impose punishments. the  monarch isnominally sovereign but the electorate, through their legislature, exercise political sovereignty.