The prime rate affects almost all individuals and organizations in some way, typically determining how much interest they’ll have to pay on bank-borrowed money. The prime rate stands at 5.50% ...

What Is the Current Prime Rate? As of May 20, 2024, the current prime rate is 8.50%, according to The Wall Street Journal’s Money Rates table.

The latest prime rate change is in response to the Fed's latest rate cut in 2024. Interest rates were cut by a total of 75 basis points in 2024.

How is the current prime rate impacting the economy? Today’s prime rate is 8.50%, which is more than 5 percentage points higher than it was during the Great Recession.

The prime rate is the interest rate that banks charge their most creditworthy clients. The prime rate today is 7.50% as of December 20, 2024. Commercial banks use the prime rate to calculate the ...

The Prime Rate would need to get back to a level where the debt service is between 12% - 15% of GDP, which would put the Prime Rate between around 3.5% - 4% again Vs. 7% today I would think.