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NAFCU Chief Economist Curt Long statement on Federal Reserve’s announcement to leave interest rates unchanged

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.

NAFCU

We provide credit unions with the best federal advocacy, education and compliance assistance in the industry. The National Association of Federally-Insured Credit Unions (NAFCU) is a direct membership association for federally insured credit unions. We are committed to representing, assisting, educating and informing our member credit unions to help them grow, and help grow the credit union industry. Over the years we have been able to build on our foundation, growing stronger with our members and steadfast in our beliefs and focus: providing unwavering federal advocacy, top-rated education, one-of-a-kind compliance assistance and supreme responsiveness. Why? Because we believe credit unions are the best and they deserve the best.  

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