What is the current US prime interest rate?

United States Prime Rate: The Current U.S. (Fed) Prime Rate is: 3.50% March 16, 2022: The FOMC has voted to raise the target range for the fed funds rate, from 0% - 0.25% to 0.25% - 0.50%. Therefore, the United States Prime Rate is now 3.50% The next FOMC meeting and decision on short-term interest rates will be on May 4, 2022.

When will the prime rate go down?

What is the current prime rate? The prime rate has been unchanged since March 2020, when the Fed responded to the coronavirus crisis by slashing what's known as the federal funds rate all the way down to a range of just 0% to 0.25%. In turn, major banks led by Chase and M&T cut the prime from 4.25% to the current prime rate of 3.25%.

What is the current Federal Reserve prime rate?

What is the current prime rate? The prime rate is 3.25% as of July 2020, according to the Fed. This is the lowest rate in the past year and since 2008. How is the prime rate determined? The prime...