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Please consider the following information: An economy has a long-run real interest rate is 2.1%, the inflation rate is currently 3.43%, real GDP is currently

Please consider the following information: An economy has a long-run real interest rate is 2.1%, the inflation rate is currently 3.43%, real GDP is currently 10.75, long-run real GDP is 20.5. The Federal Reserve targets inflation to be 3 percent.

Using the Taylor Rule, what is the targeted federal funds rate?

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