WASHINGTON, DC (February 17, 2016) — National Association of Federal Credit Unions (NAFCU) Chief Economist Curt Long issued the following statement today in response to the Federal Open Market Committee’s January meeting minutes.
“The committee is not jumping to any conclusions about the implications of the recent turbulence in financial markets,” said Long. “Moreover, there is some acknowledgement of the divergence between financial markets and economic data, which has been relatively solid. However, there is some sentiment among the dovish elements of the committee that tangible evidence of inflation is a prerequisite for future rate hikes. That added to the uncertainty resulting from weakness in emerging markets, a strong dollar, and turbulent equity markets underlies NAFCU’s belief that the FOMC will revise down its forecast of four rate hikes in 2016 at its March meeting.”
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.
