United States Prime Rate

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

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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