WASHINGTON, DC (December 13, 2017) — National Association of Federally-Insured Credit Unions (NAFCU) Chief Economist Curt Long issued a statement following the Federal Reserve’s announcement of a quarter-point increase in the federal funds target rate to a range of 1.25 to 1.5 percent. The decision to raise rates was made during the Federal Open Market Committee (FOMC) two-day meeting.
“The FOMC’s actions today were widely expected,” said Long. “The committee struck a mostly positive note in its statement and appears poised for further rate hikes in the first half of 2018.”
The FOMC last raised the federal funds target rate to a range of 1 to 1.25 percent in June.
The committee’s revised projections call for three quarter-point rate hikes in 2018 and two to three in 2019.
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.
