Suppose the Fed's monetary policy follows the following "modified" Taylor rule:

whereis inflation,is the percentage deviation of unemployment from the natural unemployment level and0.16.According to the Taylor rule, if unemployment is 2% above its natural level and inflation is 5%, the Fed should set the Fed funds rate to ____%. (Submit your answer with up to two decimals and in percent terms, i.e., 10.22 for 10.22% and 11.44 for 11.442%.)