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

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

=========