Odds Now At 94.4% (Very Likely) The Fed Will Raise The United States Prime Rate To 4.75% At The March 21, 2018 FOMC Monetary Policy Meeting

Prime Rate Forecast

Prime Rate Forecast

As of right now, odds are at 94.4% that the Federal Open Market Committee (FOMC) will vote to raise the target range for the benchmark fed funds rate  from the current 1.25% - 1.50%, to 1.50% - 1.75% at the  March 21^ST, 2018 monetary policy meeting (very 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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Economic data influencing the latest odds include readings on Inflation, Jobs, Productivity, GDP,  Retail Sales, Industrial Production, Housing, Manufacturing, The Services Sector, Consumer Sentiment, Consumer Confidence, Markets, Business Optimism, and  Economic Activity.

• On Friday, the Labor Department reported that job openings hit an all-time record high during January 2018 -- 6,312,000 -- an increase of 645,000, or 11.38%, above the December 2017 figure (5,667,000.)
  
  Hires, on the other hand, rose from 5,524,000 in December, to 5,583,000 in January, a far more modest increase of 59,000, or 1.068%.

Stay tuned for the latest odds...

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Current Odds

• Current odds the United States Prime Rate will rise to 4.75% after the March 21^ST, 2018 FOMC monetary policy meeting: 94.4%  (very likely), with 5.6% odds (very unlikely) 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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