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The current federal minimum wage is $7.25 per hour and has not increased since July 2009. The inflation in the last 10 years has been

The current federal minimum wage is $7.25 per hour and has not increased since July 2009. The inflation in the last 10 years has been approximately 16.63% (2019-2009). Other things equal, what should be the minimum wage in 2019 such that workers observe an increase of their purchasing power in 2%

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