If the Federal Reserve tries to target inflation near 2%, the inflation rate is 5.3%, and output is 1.5% above potential GDP, what is the target federal funds rate, according to the Taylor rule?

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The Answer of If the Federal Reserve tries to target inflation near 2%, the inflation rate is 5.3%, and output is 1.5% above potential GDP, what is the target federal funds rate, according to the Taylor rule?

If the Federal Reserve Tries to Target Inflation near 2