What is the federal reserve prime rate?

Answer The U.S. Prime Rate, sometimes referred as the Federal Reserve Prime Rate, refers to the lowest average interest rate that U.S. banks charge their best customers to borrow money. It is an index of... Read More »

Top Q&A For: What is the federal reserve prime rate

When did the Federal Reserve cut prime interest rates?

The Federal Reserve does not have direct control over prime interest rates, which are set by banks. The Federal Reserve conducts open market operations to change the the federal funds rate. The Fe... Read More »

What is the federal prime rate?

In the U.S., all states operate under the same national federal prime rate as reported and determined by the Wall Street Journal. The federal prime rate is used to set prices on student loans, cred... Read More »

When does the Federal Reserve meet for the interest rate?

The Federal Open Market Committee (FOMC) has eight regularly scheduled meetings during the calendar year. The FOMC is made up of 12 members, including the seven members of the Board of Governors o... Read More »

What determines the Federal Reserve interest rate?

The Federal Reserve interest rate, commonly called the federal funds rate, is a key short-term interest rate. A change in the rate influences lending rates, the dollar's value, employment and the p... Read More »