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Assume a nominal interest rate on one-year U.S. Treasury Bills of 4.13% and a real rate of interest of 1.62%. Using the Fisher Effect Equation,

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Assume a nominal interest rate on one-year U.S. Treasury Bills of 4.13% and a real rate of interest of 1.62%. Using the Fisher Effect Equation, what is the approximate expected rate of inflation in the U.S. over the next year? Write your answer in percentage (for Example 12.65%)

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