Odds Now At 60% (On The Fence) The U.S. Prime Rate Will Be Cut to 7.50% at the December 18, 2024 FOMC Monetary Policy Meeting
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| Prime Rate Prediction |
Prime Rate Forecast
As of right now, our odds are at 60% (on the fence) the Federal Open Market Committee (FOMC) of the Federal Reserve will vote to lower the benchmark target range for the fed funds rate (TRFFR) by 0.25 percentage point (25 basis points [bps]) at the December 18TH, 2024 monetary policy meeting.
A 25 bps cut would cause Prime to decrease, from the current 7.75%, to 7.50%.
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- Year-on-year (Y-O-Y), the CORE PCE Price Index moved sideways from August to September -- 2.7% to 2.7%.
- Y-O-Y, from August to September, the PCE Price Index eased, from 2.3% to 2.1%.
Stay tuned...
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The United States Prime Rate was lowered to the current 7.75% on November 7, 2024.
SUMMARY
- Current odds the U.S. Prime Rate will be cut to 7.50% at the December 18TH, 2024 FOMC monetary policy meeting: 60% (On The Fence.)
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Labels: banking, banks, disinflation, fed_funds_target_rate, Fed_Prime_Rate, housing, Housing_Inflation, inflation, money, odds, prime_rate, prime_rate_forecast, prime_rate_prediction
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posted by Steve Brown | 11/09/2024 12:31:00 PM
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