FOMC meeting this week - Fed Funds Rate expected to remain at 5.25%
This means that the prime rate is expected to stay at 8.25% which is neither good nor bad news for equity line rates. The Federal Open Market Committee sets the Federal funds rate which is currently at 5.25%. The prime rate is 3 percentage points higher than the fed funds rate. Equity lines, automobile financing rates and many other forms of debt are tied to the Prime Rate.
Fed Funds Rate Article - Wall Street Journal
