February 15, 2022 – Chief Economist Jeanette Garretty was featured in Forbes Advisor discussing the Prime Rate, how it is determined and its impact on the economy and consumers. “There is a rule of thumb that the prime rate is “fed funds plus 3,” says Garretty. “When the Fed funds rate changes, one bank will usually take the lead and announce a change in that bank’s prime rate that same day.” Read the full piece here: https://bit.ly/3oYclqG
