Odds Now At 80% (Likely) The U.S. Prime Rate Will Hold At 8.50% After The September 20, 2023 FOMC Monetary Policy Meeting
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| Prime Rate Prediction |
Prime Rate Forecast
As of right now, our odds are at 80% (likely) the Federal Open Market Committee (FOMC) will vote to keep the benchmark target range for the fed funds rate at 5.25% - 5.50% at the September 20TH, 2023 monetary policy meeting, with the United States Prime Rate (a.k.a Fed Prime Rate) holding at 8.50%.
Year-on-year, the closely watched Core PCE fell from 4.6% in May, to 4.1% during June, 2023. It was 4.8% back in June of 2022.
Clear progress has been made on the quest for that 2% Fed comfort zone, but since the current cycle of rate hikes, which began back in March of last year, has been aggressive, a pause is likely, as the Fed doesn't want to risk causing a deep and painful recession.
Clear progress has been made on the quest for that 2% Fed comfort zone, but since the current cycle of rate hikes, which began back in March of last year, has been aggressive, a pause is likely, as the Fed doesn't want to risk causing a deep and painful recession.
Stay tuned...
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NB: U.S. Prime Rate = (The Fed Funds Target Rate + 3)
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Current Odds
- Current odds the U.S. Prime Rate will continue at 8.50% after the September 20TH, 2023 FOMC monetary policy meeting: 80% (likely.)
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Labels: banking, banks, disinflation, fed_funds_target_rate, Fed_Prime_Rate, housing, Housing_Inflation, inflation, LIBOR, LIBOR_Transition, money, odds, prime_rate, prime_rate_forecast, prime_rate_prediction
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posted by Steve Brown | 8/05/2023 08:53:00 PM
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