Obtain data on the inflation rate for the most recent 12-month period possible (the FRED database at

Question:

Obtain data on the inflation rate for the most recent 12-month period possible (the FRED database at the Federal Reserve Bank of St. Louis is an excellent resource). Use this inflation rate and this chapter’s monetary policy rule to determine what fed funds rate the policy rule indicates. How does this rate compare with the current fed funds rate? If they are different, why do you think that’s the case?