Can anyone help me understand where these figures are coming from as my own calculations produce numbers seem to be very different, help and guidance much appreciated. For example in the first question I used FFR = 1.4 +0.5 (1-2.5) - 2*(7.25-6), which gave me -1.85% instead of -0.74%??

FIGURE A1: FOMC PROJECTIONS AND HISTORICAL DATA FOR MACROECONOMIC VARIABLES 4 The Taylor rule is defined as follows: Fed Funds Rate = Target Real Rate +0.5 (Inflation - Target) 2x (Unemployment - Target). We use a Target Real Rate of 1.4\%, Target Inflation of 2.5% (the sample mean), and an Unemployment Target of 6%. FIGURE A1: FOMC PROJECTIONS AND HISTORICAL DATA FOR MACROECONOMIC VARIABLES 4 The Taylor rule is defined as follows: Fed Funds Rate = Target Real Rate +0.5 (Inflation - Target) 2x (Unemployment - Target). We use a Target Real Rate of 1.4\%, Target Inflation of 2.5% (the sample mean), and an Unemployment Target of 6%