Fed Funds Rate: 0.08%
Federal Reserve Target: 0.25%
Prime Rate: 3.25%
Major political/legal events impacting currencies:
Federal Reserve releases its Beige Book finding moderate, modest US expansion
Yesterday, the Board of Governors of the Federal Reserve System released its final Beige Book for 2020. The Federal Reserve determined that US economic expansion is either moderate or modest at best. A number of districts, including the Philadelphia district, have observed a slow down in growth with a spike in COVID-19 cases since early November. Banks expect the number of borrower delinquencies to increase in 2021.
Source: Board of Governors of the Federal Reserve System