In December of 1980, the Prime Loan rate peaked at 21.50%! One year later, it would be 15.75% and a year after that, by December of 1982, it would be 11.50% or a full 10% lower than just 2 years ...

The chart below shows each recent move by the Fed, ... the fed lowered it in September 2024 for the first time in four years. The prime rate also decreased.

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% ...