WASHINGTON, DC (June 15, 2016) — National Association of Federal Credit Unions (NAFCU) Chief Economist Curt Long issued the following statement today in response to the Federal Reserve’s announcement to leave interest rates unchanged.
“The decision to leave rates the same was widely expected, especially after the disappointing job numbers in May,” said NAFCU Chief Economist and Director of Research Curt Long. “July is still a possibility if employment data is better this month, but it is more likely the committee will now wait until the third quarter or later.”
The committee will meet for another two-day policy-setting session July 26-27.
The FOMC raised the federal funds target rate to a range of 0.25 to 0.5 percent in December.
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.
