WASHINGTON, DC (August 26, 2016) — National Association of Federal Credit Unions (NAFCU) Chief Economist Curt Long issued the following statement today in response to Federal Reserve Chairwoman Janet Yellen’s comments at the Federal Reserve Bank of Kansas City’s annual Economic Policy Symposium in Jackson Hole, Wyo.
“Yellen’s comments were in line with those of other Fed officials who see the economy as drawing nearer to the point that would warrant a rate hike,” said Long. “The past two jobs reports have been especially robust, and they along with the minimal immediate impact from Brexit have seemed to allay concerns among a number of Fed officials. The August employment figures take on added importance, particularly for those officials who may be expected to offer resistance to a move in the third quarter. The odds still favor a rate hike in Q4, but September is quickly nearing a coin-flip proposition.”
The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation’s federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go to www.nafcu.org or @NAFCU on Twitter.
