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The Wall Street Journal Prime Rate (WSJ Prime Rate) is a measure of the U.S. prime rate, defined by The Wall Street Journal (WSJ) as "the base rate on corporate loans posted by at least 70% of the 10 largest U.S. banks". It is not the "best" rate offered by banks. It should not be confused with the discount rate set by the Federal Reserve ...
The Federal Reserve adjusts its administratively set interest rates, mainly the interest on reserve balances (IORB), to bring the effective rate into the target range. The target range is chosen to influence market interest rates generally and in turn ultimately the level of activity, employment and inflation in the U.S. economy. [3]
The Fed's dot plot is a chart that records each Fed official's projection for the central bank's key short-term interest rate. The dot plot is updated every three months and is meant to provide ...
In an unscheduled meeting on August 17 the Fed "temporarily" reduced the spread between the primary credit rate and the federal funds rate to 50 basis points from the 100-point spread established in January 2002. Official statement, 2007-08-07, Official statement, 2007-08-10, Official statement, 2007-08-17. August 7, 2007 5.25% 6.25% 10–0
As of Aug. 9, the FOMC’s target federal funds rate range is 5.25% to 5.50%. The effective federal funds rate at which banks make overnight loans is 5.33%.
The prime rate is generally three percentage points higher than the federal funds rate, which is a target interest rate range set by the Federal Reserve Board. This rate is used to determine how ...
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