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NAFCU Research: Beige Book confirms sizeable confidence loss

The National Association of Federally-Insured Credit Unions (NAFCU) Chief Economist and Vice President of Research Curt Long issued the following statement after the Federal Reserve released its latest Beige Book:

“The Fed’s latest Beige Book confirms not only widespread impact on employment and economic activity, but also a sizable loss of confidence. This is likely to linger even after the economy reopens, particularly among the business sector, which will depress capital investment over the long term. The Fed’s banking contacts uniformly indicated that they had ratcheted up credit standards, while reported liquidity conditions were highly uneven,” said NAFCU Chief Economist and Vice President of Research Curt Long.

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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