National Association of Federal Credit Unions (NAFCU) Director of Research and Chief Economist Curt Long issued the following statement today in response to the Bureau of Labor Statistics’ March Consumer Price Index (CPI) data.
“Today’s report should end any doubt about the Fed's upcoming interest rate decision - there will be no rate hike in April,” said Long. “June is still a possibility, but without any urgency in the form of price growth, the Fed is free to maintain its wait-and-see approach. For the moment, overseas economies are weighing far more on monetary policy than anything happening domestically.”