Odds Now At 90% (Very Likely) The U.S. Prime Rate Will Continue At 8.50% After The March 20, 2024 FOMC Monetary Policy Meeting

Prime Rate Prediction

Prime Rate Forecast

As of right now, our odds are at 90% (very 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 March 20^TH, 2024 monetary policy meeting, with the United States Prime Rate (a.k.a Fed Prime Rate) holding at 8.50%.

 =======
 

The U.S. economy remains strong, despite the relatively high cost of borrowing. Both short- and long-term interest rates are restrictive right now, and have been for some time. This interest-rate environment should have helped to cool the American consumer down, but so far, that hasn't happened.

The economy grew at a healthy 3.3% during Q4, 2023, while the unemployment rate held steady at 3.7% last month, with an estimated 353,000 non-farm jobs added to the American workforce.

So, at this point, it's unlikely the Fed will lower the benchmark fed funds target rate on March 20^TH, as many were hoping might happen.

Stay tuned...

=======

The United States Prime Rate was raised to the current 8.50% on July 26, 2023.

=======

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

======= 

Current Odds

• Current odds the U.S. Prime Rate will continue at 8.50% after the March 20^TH, 2024 FOMC monetary policy meeting: 90% (very likely.)
  

=========

--> www.FedPrimeRate.com Privacy Policy <-- >  SITEMAP  <