Which of the Following Is Correct? in the 1990's

Multiple Choice

Which of the following is correct? In the 1990's

A) the Fed maintained low inflation because it had to follow a policy rule.
B) the Fed maintained low inflation even without being required to follow a policy rule.
C) the Fed was not required to follow a policy rule and let inflation move higher.
D) the Fed was required to follow a policy rule, but it provided the Fed enough discretion that inflation move higher.