Odds Now At 90% (Likely) The U.S. Prime Rate Will Hold At 8.50% After The November 1, 2023 FOMC Monetary Policy Meeting
Prime Rate Prediction |
Prime Rate Forecast
As of right now, our odds are at 90% (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 November 1ST, 2023 monetary policy meeting, with the United States Prime Rate (a.k.a Fed Prime Rate) holding at 8.50%.
From the August, 2023 Job Openings and Labor Turnover report:
- Year-on-Year (Y-o-Y), job openings are down by 588,000, or -5.77%.
- Y-o-Y, hires are down by 621,000, or -9.59%.
Meanwhile, Y-o-Y, the closely watched Core PCE fell from 4.3% in July, to 3.9% during August, 2023. It was 4.9% back in August of 2022.
The taming of inflation continues, as does the culling jobs. 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 November 1ST, 2023 FOMC monetary policy meeting: 90% (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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