Question: Assume the yield on a 3 - year Treasury note is 4 . 0 9 percent and the yield on 3 - year TIPS is

Assume the yield on a 3-year Treasury note is 4.09 percent and the yield on 3-year TIPS is 0.62 percent. Calculate the implied expected rate of inflation for the next 3 years. You should use the Fisher equation.
Round the answer to two decimal places in percentage form.
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