United States Prime Rate: August 2020

Thursday, August 20, 2020

Odds At 100% (Certain) The United States Prime Rate Will Hold At 3.25% After The September 16, 2020 FOMC Monetary Policy Meeting

Prime Rate Prediction

Prime Rate Forecast

As of right now, our odds are at 100% (certain) the Federal Open Market Committee (FOMC) will vote to leave the target range for the benchmark fed funds rate at the current 0.00% - 0.25% at the September 16^TH, 2020 monetary policy meeting, and keep the United States Prime Rate (a.k.a Fed Prime Rate) at 3.25%.

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The current U.S. Prime Rate was lowered from 4.25% to the current 3.25% on March 15^TH, 2020.

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The Labor Department reported that new claims for jobless benefits increased from 971,000 for the week that ended on August 8^TH, to 1,106,000 for the week that ended on August 15^TH. Most professional prognosticators were expecting a decrease.

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Gross Domestic Product (GDP) for the United States declined by a staggering 32.9% between April and June of this year, according to the Commerce Department's first estimate.

There will be two more readings on Q2 GDP in the coming months.

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Coronavirus COVID-19 Reminder:

Symptoms of COVID-19, which may appear 2-14 days after exposure, include:

Fever
Cough
Shortness of breath

Emergency warning signs for COVID-19 include:

Difficulty breathing or shortness of breath
Persistent pain or pressure in the chest
New confusion or inability to arouse
Bluish lips or face

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-- Stop The Spread of Germs (PDF) --

-- What To Do If You Are Sick (PDF) --

-- Novel COVID-19 Coronavirus UPDATES --

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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 for current U.S. economic data (inflation, jobs, economic growth, wages, etc.)

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Current Odds

Current odds the United States Prime Rate will remain at the current 3.25% after theSeptember 16^TH, 2020 FOMC monetary policy meeting: 100% (certain.)

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