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Based on the Taylor Rule use the following information to calculate the target federal funds rate. Part 2 Variable Value Target inflation rate 2 percent

Based on the Taylor Rule use the following information to calculate the target federal funds rate. Part 2 Variable Value Target inflation rate 2 percent Current inflation rate percent Real equilibrium federal funds rate 2 percent Output gap percent Part 3 In this case, the Federal funds target rate is: enter your response here percent. (Round your solution to one decimal place.)

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