Question: Can anyone help me with this homework problem? Problem 16-06 (algo) Suppose that actual inflation is 4 percent, the Fed's inflation target is 2.5 percentage

Can anyone help me with this homework problem?

Problem 16-06 (algo) Suppose that actual inflation is 4 percent, the Fed's inflation target is 2.5 percentage points, and unemployment is 0.5 percent below the Fed's unemployment target. According to the Taylor Rule, what value will the Fed want to set for its targeted interest rate? Instructions: Enter your answer rounded to 1 decimal place. percent

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