(Taylor rule) The Fed has estimated the equilibrium real interest rate to be 1.1%, recent CPI inflation has averaged around 6.4%, the real GDP is forecast to be $24.4 trillion for the year, while potential GDP is estimated at $25.3 trillion, and the Fed's inflation target 1.8%. What is the interestrate target under the Taylor rule? Record your answer in %, to the nearest 0.01%, drop the \% svmbol. E.g., if your answer is 0.08365 , record it as 8.37