I only need the second part please

Suppose the Fed commits itself to the use of the Taylor rule (shown below) to set the federal funds rate Federal funds rate = Long - run target + 1.5(Inflation rate - Inflation target) + 0.5(Output gap) Suppose the Fed has set the long-run target for the federal funds rate at 1 percent and its target for inflation at 1 5 percent If the economy is currently hitting the Fed's inflation target and GDP exactly equals the trend GDP, then the Fed will set the federal funds rate at 1 percent (Enter your response with no rounding.) Now suppose the economy slows down, causing the actual inflation rate to decrease to 0.5 percent and the economy to fall 2 percent below trend GDP In this case, the Fed will seek to set the federal funds rate at | percent (Enter your response with no rounding.)