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NAFCU president and CEO Dan Berger on Federal Reserve’s announcement to maintain current interest rate

National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger issued the following statement today in response to the Federal Reserve’s announcement of no interest-rate increase.

“The FOMC’s decision to hold off on a rate hike was widely expected, as recent readings on consumer spending and inflation have been weak,” said Berger. “More importantly, uncertainty over the global economy has led policy makers to take a wait-and-see approach. All eyes shift to the next meeting in June, but in the absence of inflationary pressure, there is little urgency for the Fed to resume rate normalization.”

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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