National Association of Federally-Insured Credit Unions (NAFCU) Chief Economist and Director of Research Curt Long issued the following statement today in response to Federal Reserve Chair Janet Yellen’s testimony on the semiannual Monetary Policy Report before the Senate Committee on Banking, Housing, and Urban Affairs.
“Chair Yellen provided an upbeat assessment of recent economic progress,” said Long. “While she left herself and the rest of the FOMC plenty of room to maneuver, she did suggest that a March rate hike is on the table. Investors remain somewhat skeptical, but a strong jobs report in three weeks could tilt expectations toward a move.”