United States Prime Rate

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

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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