United States Prime Rate

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

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%.



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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