Prime Rate

also known as the Fed, National or United States Prime Rate,
from the interest-rate specialists at www.FedPrimeRate.comSM

Friday, May 25, 2018

FOMC Meeting Schedule (Tentative) for 2019

Earlier today, The Federal Open Market Committee (FOMC) released its tentative monetary policy meeting schedule for 2019. The FOMC doesn't always stick to the exact dates on the schedule (hence tentative), but they do always meet at least eight times per calendar year.

Why is this schedule important to you? Because it's at these monetary policy meetings that the FOMC votes on whether to raise, lower or make no changes to the target range for Fed Funds Target Rate, and when the Fed Funds Target Rate changes, the United States Prime Rate (also known as the Fed Prime Rate) will also change (how the United States Prime Rate works).

Here's the tentative schedule for 2019:

  • January 30, 2019

  • March 20, 2019
    (+ Press Conference + Economic Projections)

  • May 1, 2019

  • June 19, 2019
    (+ Press Conference + Economic Projections)

  • July 31, 2019

  • September 18, 2019
    (+ Press Conference + Economic Projections)

  • October 30, 2019

  • December 11, 2019
    (+ Press Conference + Economic Projections)


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Thursday, May 10, 2018

Odds At 100% (Certain) The United States Prime Rate Will Rise To 5% After The June 13, 2018 FOMC Monetary Policy Meeting

United States Prime Rate Forecast
Prime Rate Forecast
Prime Rate Forecast

As of right now, odds are at 100% the Federal Open Market Committee (FOMC) will vote to raise the target range for the benchmark fed funds rate , from 1.50% - 1.75%, to 1.75% - 2.00%, at the June 13TH, 2018 monetary policy meeting (certain.)

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The current Prime Rate, which went into effect on March 21ST, 2018, is 4.75%.

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

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Stay tuned for the latest odds and economic data, and especially for news on inflation, jobs, economic growth and wages...

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Current Odds

  • Current odds the United States Prime Rate will rise to 5.00% after the June 13TH, 2018 FOMC monetary policy meeting: 100%  (certain.)


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Wednesday, May 02, 2018

Third FOMC Meeting of 2018 Adjourned: United States Prime Rate Continues At 4.75%

United States Prime Rate continues at 4.75%
U.S. Prime Rate
The Federal Open Market Committee (FOMC) of the Federal Reserve System has just adjourned its third monetary policy meeting of 2018 and, in accordance with our latest forecast, has voted to leave the benchmark target range for the federal funds rate at 1.50% - 1.75%. Therefore, the United States Prime Rate (a.k.a the Fed Prime Rate) will continue at the current 4.75%.

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

Here's a clip from today's FOMC press release (note text in bold):

"...Information received since the Federal Open Market Committee met in March indicates that the labor market has continued to strengthen and that economic activity has been rising at a moderate rate. Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low. Recent data suggest that growth of household spending moderated from its strong fourth-quarter pace, while business fixed investment continued to grow strongly. On a 12-month basis, both overall inflation and inflation for items other than food and energy have moved close to 2 percent. Market-based measures of inflation compensation remain low; survey-based measures of longer-term inflation expectations are little changed, on balance.

Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that, with further gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace in the medium term and labor market conditions will remain strong. Inflation on a 12-month basis is expected to run near the Committee's symmetric 2 percent objective over the medium term. Risks to the economic outlook appear roughly balanced.

In view of realized and expected labor market conditions and inflation, the Committee decided to maintain the target range for the federal funds rate at 1-1/2 to 1-3/4 percent. The stance of monetary policy remains accommodative, thereby supporting strong labor market conditions and a sustained return to 2 percent inflation.

In determining the timing and size of future adjustments to the target range for the federal funds rate, the Committee will assess realized and expected economic conditions relative to its objectives of maximum employment and 2 percent inflation. This assessment will take into account a wide range of information, including measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial and international developments. The Committee will carefully monitor actual and expected inflation developments relative to its symmetric inflation goal. The Committee expects that economic conditions will evolve in a manner that will warrant further gradual increases in the federal funds rate; the federal funds rate is likely to remain, for some time, below levels that are expected to prevail in the longer run. However, the actual path of the federal funds rate will depend on the economic outlook as informed by incoming data.

Voting for the FOMC monetary policy action were Jerome H. Powell, Chairman; William C. Dudley, Vice Chairman; Thomas I. Barkin; Raphael W. Bostic; Lael Brainard; Loretta J. Mester; Randal K. Quarles; and John C. Williams..."

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