Item $12$

If the effective federal funds rate is $1\mathrm{.}24$ percent, which of the following is most likely to be the Fed's target range for the federal funds rate?

Multiple Choice

$1\mathrm{.}14$ to $2\mathrm{.}14$

$1\mathrm{.}10$ to $1\mathrm{.}35$

$1\mathrm{.}00$ to $2\mathrm{.}00$

$1\mathrm{.}24$ to $1\mathrm{.}49$