United States Prime Rate

also known as the Fed, National or United States Prime Rate,
from the interest-rate specialists at www.FedPrimeRate.comSM

Sunday, December 01, 2024

Federal Open Market Committee (FOMC) Monetary Policy Meeting Schedule for 2025 & 2026

FOMC Meeting Schedule for 2025 and 2026

👇: Here's the Federal Open Market Committee (FOMC) monetary policy meeting schedule for 2025 and 2026.

Why is this schedule important to you? Because it's at these monetary policy meetings that the FOMC votes on whether to raise, lower or make no changes to the target range for Fed Funds Target Rate, and when the Fed Funds Target Rate changes, the United States Prime Rate (also known as the Fed Prime Rate) will also change (how the United States Prime Rate works):

======👇2025👇======

  • January 29, 2025

  • March 19, 2025

  • May 7, 2025

  • June 18, 2025

  • July 30, 2025

  • September 17, 2025

  • October 29, 2025

  • December 10, 2025

======👇2026👇======

  • January 28, 2026

  • March 18, 2026

  • April 29, 2026

  • June 17, 2026

  • July 29, 2026

  • September 16, 2026

  • October 28, 2026

  • December 9, 2026

================

  • January 27, 2027

================

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Saturday, November 09, 2024

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

United States Prime Rate Forecast
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%. 

 =======

  • 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...
=======

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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Sunday, September 29, 2024

Odds Now At 99% (VERY LIKELY) The U.S. Prime Rate Will Be Cut By At Least 25 Basis Points (0.25 Percentage Point) at the November 7, 2024 FOMC Monetary Policy Meeting

United States Prime Rate Forecast
Prime Rate Prediction

Prime Rate Forecast

As of right now, our odds are at 99% (very likely) the Federal Open Market Committee (FOMC) of the Federal Reserve will vote to lower the cardinal target range for the fed funds rate (TRFFR) by at least 0.25 percentage point (25 basis points [bps]) at the November 7TH, 2024 monetary policy meeting.

A 25 bps cut would cause Prime to decrease, from the
current 8.00%, to  7.75%. 

A 50 bps cut would lower the
TRFFR to a range of 4.25% - 4.50%, and would result in a Prime Rate of 7.50%, a level not seen since December of 2022.

 =======
  • Y-O-Y, the Core CPI for August, 2024 came in at +3.197%.
  • Stay tuned...
    =======

    The United States Prime Rate was lowered to the current 8.00% on September 18, 2024.

    =======

    SUMMARY

    • Current odds the U.S. Prime Rate will be cut to 7.75% or lower at the November 7TH, 2024 FOMC monetary policy meeting: 99% (very likely.)
    =========

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    Sunday, August 04, 2024

    Odds Now At 95% (VERY LIKELY) The U.S. Prime Rate Will Be Cut By At Least 25 Basis Points (0.25 Percentage Point) at the September 18, 2024 FOMC Monetary Policy Meeting

    United States Prime Rate Forecast
    Prime Rate Prediction

    Prime Rate Forecast

    As of right now, our odds are at 95% (very likely) the Federal Open Market Committee (FOMC) will vote to LOWER the benchmark target range for the fed funds rate (TRFFR) by at least 25 basis points (bps) at the September 18TH, 2024 monetary policy meeting.

    If a 25 bps cut happens, the
    United States Prime Rate (a.k.a Fed Prime Rate) would decline from the current 8.50%, to  8.25%. 

    There is also a very real chance that the
    FOMC will cut by 50 bps next month, setting the TRFFR at 4.75% - 5.00%.  This would result in a U.S. Prime Rate of 8.00%, a level not seen since March of 2023.

     =======
    Eurodollar LIBOR Has An Excellent Record of Predicting
    Recessions for The American Economy

      
    Over the years, U.S. dollar (Eurodollar) LIBOR rates have been good at predicting what's in the economic offing for the American economy.

    Right now, there is an inversion in USD LIBOR rates.  Current rates (August 2, 2024) are as follows:

    • 1-Month LIBOR: 5.46652%
    • 3-Month LIBOR: 5.48934%
    • 6-Month LIBOR: 5.43589%
    The 6-month rate is lower than the 3-month rate, which = economic concerns ahead!  

    Is LIBOR a better prognosticator than the Treasury yield curve or the LEI?  Our thesis = 👍 Yes! 🙌

    Stay tuned...
    =======

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

    =======


    ======= 

    Current Odds

    • Current odds the U.S. Prime Rate will be cut to 8.25% or lower at the September 18TH, 2024 FOMC monetary policy meeting: 95% (very likely.)
    =========

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    Monday, June 17, 2024

    Odds Now At 90% (VERY LIKELY) The U.S. Prime Rate Will Remain at 8.50% After The July 31, 2024 FOMC Monetary Policy Meeting

    United States Prime Rate Forecast
    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 July 31ST, 2024 monetary policy meeting, with the United States Prime Rate (a.k.a Fed Prime Rate) holding at 8.50%.

     =======

    Futures Market Has No Idea Where Where Short-Term Rates Will Be at The End of This Year
      
    www.FedPrimeRate.com: Futures Market has No Idea Where Where Short-Term Rates Will Be at The End of This Year
    Current Interest-Rate-Futures Market Predictions for
    the December 18, 2024 FOMC Policy Meeting



    Nice
    pyramid this 👆🔺👆 chart is, n'est-ce pas?

    Right now, a 44% majority believe that the Fed will have cut rates by 50 basis points (0.50 percentage point) by the end of 2024.  If they're right, that would put the U.S. Prime Rate at an even 8.00% at year-end.

    • From the May Jobs Report: Year-on-year (Y-O-Y), Average Weekly Earnings advanced by +4.08%, while the reading on Average Weekly Earnings was +3.78%

      • The U-3 (official) jobless rate edged higher, from 3.9% during April, to 4.0% during May, 2024.

    • Y-O-Y, the Core CPI for May, 2024 came in at +3.42%.
       
    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 remain at 8.50% after the July 31ST, 2024 FOMC monetary policy meeting: 90% (very likely.)
    =========

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    Tuesday, May 07, 2024

    Odds Now At 90% (VERY LIKELY) The U.S. Prime Rate Will Remain at 8.50% After The June 12, 2024 FOMC Monetary Policy Meeting

    United States Prime Rate Forecast
    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 June 12TH, 2024 monetary policy meeting, with the United States Prime Rate (a.k.a Fed Prime Rate) holding at 8.50%.

     =======

    Jobs + Wages Weakening: Exactly What The Fed Wants
      
    • CHART: Number of Jobless People per Job Opening - MARCH 2024 UPDATE
      The number of jobless people per job opening crept up during March, 2024 (graphic.)  A lagging indicator, but nevertheless: further proof that the Fed's mission of killing jobs, and keeping short-term interest rates elevated, to tame inflation, is working.
    • From the April Jobs Report: A rare negative month-on-month reading for Average Weekly Earnings (-0.09%.)
    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 remain at 8.50% after the June 12TH, 2024 FOMC monetary policy meeting: 90% (very likely.)
    =========

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    Monday, April 08, 2024

    Odds Now At 95% (VERY LIKELY) The U.S. Prime Rate Will Remain at 8.50% After The May 1, 2024 FOMC Monetary Policy Meeting

    United States Prime Rate Forecast
    Prime Rate Prediction

    Prime Rate Forecast

    As of right now, our odds are at 95% (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 May 1ST, 2024 monetary policy meeting, with the United States Prime Rate (a.k.a Fed Prime Rate) holding at 8.50%.

     =======

    Latest on Disinflation
     
    • Y-O-Y, The Core PCE Price Index moved sideways, remaining at 2.8% from January to February of this year. With food + energy added to the mix, the PCE Price Index edged in the wrong direction: up, from 2.4% to 2.5%.

    Wages

     =======

    And so, based on these and other economic data, the Fed is likely to do nothing with the benchmark fed funds target rate on May 1ST, 2024, which would mean Prime staying where it is until the following meeting and decision on short-term rates (June 12, 2024.)

    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 remain at 8.50% after the May 1ST, 2024 FOMC monetary policy meeting: 95% (very likely.)
    =========

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    Thursday, February 08, 2024

    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

    United States Prime Rate Forecast
    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 20TH, 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 20TH, 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 20TH, 2024 FOMC monetary policy meeting: 90% (very likely.)
    =========

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    Wednesday, January 03, 2024

    Odds Now At 90% (Very Likely) The U.S. Prime Rate Will Continue At 8.50% After The January 31, 2024 FOMC Monetary Policy Meeting

    United States Prime Rate Forecast
    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 January 31ST, 2024 monetary policy meeting, with the United States Prime Rate (a.k.a Fed Prime Rate) remaining at 8.50%.

     =======

     
    Year-on-Year (Y-o-Y), the Core PCE, the Fed's preferred inflation gauge, fell from 3.4% during October 2023, to 3.2% during November, 2023.  It was 4.8% back in November of 2022.

     =======

    Right now, we have odds at 65% (on the fence) the Fed will cut short-term rates, including the U.S. Prime Rate, by 25 basis points (0.25 percentage point) at the March 20, 2024 FOMC meeting

    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 January 31ST, 2024 FOMC monetary policy meeting: 90% (very likely.)
    =========

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    Monday, January 01, 2024

    FOMC Meeting Schedule for 2024

    FOMC Meeting Schedule for 2024
    Here's the 2024 meeting schedule for the Federal Open Market Committee (FOMC.)

    Why is this schedule important to you? Because it's at these monetary policy meetings that the FOMC votes on whether to raise, lower or make no changes to the target range for Fed Funds Target Rate, and when the Fed Funds Target Rate changes, the United States Prime Rate (also known as the Fed Prime Rate) will also change (how the United States Prime Rate works):

    ===============================

     ===============================

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    Friday, December 01, 2023

    Odds Now At 100% (Certain) The U.S. Prime Rate Will Continue At 8.50% After The December 13, 2023 FOMC Monetary Policy Meeting

    United States Prime Rate Forecast
    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 keep the benchmark target range for the fed funds rate at  5.25% - 5.50% at the December 13TH, 2023 monetary policy meeting, with the United States Prime Rate (a.k.a Fed Prime Rate) holding at 8.50%.

     

    Rate hikes have been aggressive since May of 2022, so remaining on hold is the right thing to do. The last thing the Fed wants to do is drag the economy down into a deep recession.  A soft landing remains the target.

     
    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 December 13TH, 2023 FOMC monetary policy meeting: 100% (certain.)
    =========

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    Wednesday, October 11, 2023

    Odds Now At 90% (Likely) The U.S. Prime Rate Will Hold At 8.50% After The November 1, 2023 FOMC Monetary Policy Meeting

    United States Prime Rate Forecast
    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%.

     

    • 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...
     
    =======

    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 November 1ST, 2023 FOMC monetary policy meeting: 90% (likely.)
    =========

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    Saturday, August 05, 2023

    Odds Now At 80% (Likely) The U.S. Prime Rate Will Hold At 8.50% After The September 20, 2023 FOMC Monetary Policy Meeting

    United States Prime Rate Forecast
    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.

    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 September 20TH, 2023 FOMC monetary policy meeting: 80% (likely.)
    =========

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    Wednesday, July 26, 2023

    Odds Now At 100% (Certain) The U.S. Prime Rate Will Rise to 8.50% After This Afternoon's FOMC Monetary Policy Meeting

    United States Prime Rate Forecast
    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 raise the benchmark target range for the fed funds rate to  5.25% - 5.50% at today's monetary policy meeting, with the United States Prime Rate (a.k.a Fed Prime Rate) rising to 8.50%.

     =======

    Many economists keep warning that a recession may be in the offing, but working  America and consumer America are in defiance.

    Employment remains very strong, while the latest Consumer Confidence reading (for this month) proves that Americans are still spending like...Americans.

    Interesting note: Since the beginning of this year, government has been hiring more than any other sector. :o(

    Stay tuned...


    ============
     
    The United States Prime Rate was raised to the current 8.25% on May 3, 2023.

    =======

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

    ======= 

    Current Odds
    • Current odds the U.S. Prime Rate will rise to 8.50% after today's FOMC monetary policy meeting: 100% (certain.)
    =========


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    Wednesday, June 21, 2023

    Odds Now At 80% (Likely) The U.S. Prime Rate Will Rise to 8.50% After The July 26, 2023 FOMC Monetary Policy Meeting

    United States Prime Rate Forecast
    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 raise the benchmark target range for the fed funds rate to  5.25% - 5.50% at the July 26TH, 2023 monetary policy meeting, with the United States Prime Rate (a.k.a Fed Prime Rate) rising to 8.50%.

     
    Last week, America got much needed good news on prices, in the form of the May 2023 Import / Export Price Indexes. Year-on-year, import prices declined by 5.9%, while export prices eased by 10.1%.
     
    But at 4.7%, the latest reading on the Fed's preferred inflation gauge -- the Core PCE -- was still uncomfortably above the central bank's 2% target.  So the Fed is probably going to nudge short-term rates up by 25 basis points (0.25 percentage point) next month.

    Stay tuned...
     
    =======

    The United States Prime Rate was raised to the current 8.25% on May 3, 2023.

    =======

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

    ======= 

    Current Odds
    • Current odds the U.S. Prime Rate will rise to 8.50% after the July 26TH, 2023 FOMC monetary policy meeting: 80% (likely.)
    =========


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    Saturday, May 13, 2023

    Odds Now At 90% (Likely) The U.S. Prime Rate Will Hold At 8.25% After The June 14, 2023 FOMC Monetary Policy Meeting

    United States Prime Rate Forecast
    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  5.00% - 5.25% at the June 14TH, 2023 monetary policy meeting, with the United States Prime Rate (a.k.a Fed Prime Rate) holding at 8.25%.

     
    =======

    INFLATION!
     
    Both the CPI and the Core PCE remain above the Fed's comfort zone, but since rate increases take time to ripple through the economy, chances are pretty good that the Fed will choose to pause (do nothing) at the June 14TH FOMC meeting.

    Meanwhile, the jobs picture (Employment Situation, JOLTS, Jobless Claims, etc.) isn't helping.

    Stay tuned...
     
    =======

    The United States Prime Rate was raised to the current 8.25% on May 3, 2023.

    =======

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

    ======= 

    Current Odds
    • Current odds the U.S. Prime Rate will continue at 8.25% after the June 14TH, 2023 FOMC monetary policy meeting: 90% (likely.)
    =========


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    Sunday, April 23, 2023

    Odds Now At 100% (Certain) The U.S. Prime Rate Will Rise To 8.25% After The May 3, 2023 FOMC Monetary Policy Meeting

    United States Prime Rate Forecast
    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 raise the benchmark target range for the fed funds rate to  5.00% - 5.25% at the May 3RD, 2023 monetary policy meeting, with the United States Prime Rate (a.k.a Fed Prime Rate) rising to 8.25%.

     
    ======= 
     


    The United States Prime Rate was raised to the current 8.00% on March 22, 2023.

    =======

    Recent inflation reads should prompt the Fed to raise short-term rates again next month (May 3RD.) The last time the U.S. Prime Rate was raised to 8.25% was June 29, 2006.

    Stay tuned...
    =======

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

    ======= 

    Current Odds
    • Current odds the U.S. Prime Rate will rise to 8.25% after the May 3RD, 2023 FOMC monetary policy meeting: 100% (certain.)
    =========


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    Friday, March 24, 2023

    Odds Now At 100% (Certain) The U.S. Prime Rate Will Continue At 8.00% After The May 3, 2023 FOMC Monetary Policy Meeting

    United States Prime Rate Forecast
    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 keep the benchmark target range for the fed funds rate at  4.75% - 5.00% at the May 3, 2023 monetary policy meeting, with the United States Prime Rate (a.k.a Fed Prime Rate) holding at 8.00%.

    =======


    The United States Prime Rate was raised to the current 8.00% on March 22, 2023.

    =======

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

    ======= 

    Current Odds
    • Current odds the U.S. Prime Rate will continue at 8.00% after the May 3, 2023 FOMC monetary policy meeting: 100% (certain.)
    =========

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    Thursday, February 09, 2023

    Odds Now At 100% (Certain) The U.S. Prime Rate Will Rise To At Least 8.00% After The March 22, 2023 FOMC Monetary Policy Meeting

    United States Prime Rate Forecast
    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 raise the target range for the benchmark fed funds rate to at least  4.75% - 5.00%, at the March 22, 2023 monetary policy meeting, with the United States Prime Rate (a.k.a Fed Prime Rate) rising to at least 8.00%.

    =======


    The United States Prime Rate was raised to the current 7.75% on February 1, 2023.

    =======


    ======= 

    Current Odds
    • Current odds the U.S. Prime Rate will rise to at least 8.00% after the March 22, 2023 FOMC monetary policy meeting: 100% (certain.)
    =========

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