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Suppose that actual inflation is 4 percent, the Fed's inflation target is 2 percentage points, and unemployment rate is 2 (which Is 2 percent below

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Suppose that actual inflation is 4 percent, the Fed's inflation target is 2 percentage points, and unemployment rate is 2 (which Is 2 percent below the Fed's full-employment target of 4 percent). According to the Taylor Rule, what value will the Fed want to set for Its targeted interest rate? Instructions: Enter your answer rounded to 1 decimal place. percent

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