Odds At 83.1% (Likely) The U.S. Prime Rate Will Rise To 4.75% After The March 21, 2018 FOMC Monetary Policy Meeting

Prime Rate Forecast

Prime Rate Forecast

As of right now, odds are at 83.1%  that the Federal Open Market Committee (FOMC) will vote to raise the target range for the benchmark fed funds rate  from 1.25% - 1.50% to 1.50% - 1.75% at the  March 21^ST, 2018 monetary policy meeting (likely.)

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The current Prime Rate, which went into effect on December 14^TH, 2017 is 4.50%.

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NB: U.S. Prime Rate = (The Fed Funds Target Rate + 3)

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Jerome Hayden Powell

Federal Open Market Committee Unanimously Selects Jerome H. Powell To Serve As Its Chairman, Effective February 3, 2018

From today's FOMC press release:

"...The Federal Open Market Committee, at its annual organizational meeting this week, unanimously selected Jerome H. Powell to serve as its Chairman, effective February 3, 2018. He is scheduled to be sworn in as Chairman of the Board of Governors of the Federal Reserve System on the next business day at approximately 9 a.m. EST February 5..."

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• Federal Open Market Committee reaffirms its "Statement on Longer-Run Goals and Monetary Policy Strategy." (PDF)

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Stay tuned for the latest odds...

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Current Odds

• Current odds the U.S. Prime Rate will rise to 4.75% after the March 21^ST, 2018 FOMC monetary policy meeting: 83.1%  (likely), with 16.9% odds (not likely) the U.S. Prime Rate will continue at 4.50%.
  
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• NB: United States Prime Rate = (The Fed Funds Target Rate + 3)

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