National Association of Federally-Insured Credit Unions (NAFCU) Chief Economist and Director of Research Curt Long issued the following statement today in response to the Federal Open Market Committee’s latest meeting minutes released today.
“The minutes from the FOMC’s most recent meeting were typically noncommittal. There was plenty to chew on for both hawks and doves, and with some significant data releases due before the committee’s next meeting, it is likely that the committee itself is unsure about which direction it is leaning,” said Long. “The most likely scenario for the March meeting is that the committee will hold off on a rate hike with some of the more hawkish members objecting, thereby setting the stage for a rate increase in the second quarter.”