Newsroom
Fed to discuss pace of tapering asset purchases today
The Federal Open Market Committee (FOMC) - the Fed’s monetary-policy setting arm – begins its final meeting of 2021 today and is expected to discuss several topics of interest to credit unions.
The most anticipated subject will be whether or not the FOMC will speed up the pace of tapering. The Fed will likely not raise rates until the tapering process is complete, which is scheduled to be finished in June. However, many expect a quicker pace to bring it to a close as early as March. The FOMC will also be providing projections to see if there’s a broad expectation for multiple rate hikes next year.
During the November meeting, FOMC predicted that November and December would see a 12.5 percent reduction in the pace of each type of asset purchase. At that pace, purchases will be wound down to zero by June 2022. NAFCU Chief Economist and Vice President of Research Curt Long last month commented on the previous FOMC meeting saying, “The $15 billion per month pace of tapering was also in line with expectations and puts the Federal Reserve on track to wind down the process by June 2022.”
The committee also announced that it would begin tapering asset purchases from $80 billion in treasuries to $40 billion in agency mortgage-backed securities. The Fed also maintained the federal funds target rate near its current range of 0 to 0.25 percent.
NAFCU will be monitoring the FOMC meeting, which begins today and ends Wednesday – and will share key findings via a Marco Data Flash report. Access up-to-date economic updates from NAFCU's award-winning research team.
Share This
Related Resources
Add to Calendar 2024-06-26 14:00:00 2024-06-26 14:00:00 Gallagher Executive Compensation and Benefits Survey About the Webinar The webinar will share trends in executive pay increases, annual bonuses, and nonqualified benefit plans. Learn how to use the data charts as well as make this data actionable in order to improve your retention strategy. You’ll hear directly from the survey project manager on how to maximize the data points to gain a competitive edge in the market. Key findings on: Total compensation by asset size Nonqualified benefit plans Bonus targets and metrics Prerequisites Demographics Board expenses Watch On-Demand Web NAFCU digital@nafcu.org America/New_York public
Gallagher Executive Compensation and Benefits Survey
preferred partner
Gallagher
Webinar
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 2024 Mid-Year Fraud Review Listen On: Key Takeaways: [01:16] Check fraud continues to be rampant across the country. Card fraud is affecting everyone. [04:31] Counterfeit US passport cards are just another new toolbox in the bad actors’ toolbox. [07:21] Blocking the fallback is the only way to defeat counterfeit cards. [11:17] The best way is constant education to your members in as many channels as you can. [13:02] We are still seeing overdraft lawsuits. Make sure the programming you have at your credit union matches what you have displayed for the members. Web NAFCU digital@nafcu.org America/New_York public
2024 Mid-Year Fraud Review
Strategy & Growth, Consumer Lending
preferred partner
Allied Solutions
Podcast
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 The Evolving Role of the CISO in Credit Unions Listen On: Key Takeaways: [01:30] Being able to properly implement risk management decisions, especially in the cyber age we live in, is incredibly important so CISOs have a lot of challenges here. [02:27] Having a leader who can really communicate cyber risks and understand how ready that institution is to deal with cyber events is incredibly important. [05:36] We need to be talking about risk openly. We need to be documenting and really understanding what remediating risk looks like and how you do that strategically. [16:38] Governance, risk, compliance, and adherence to regulatory controls are all being looked at much more closely. You are also seeing other technology that is coming into the fold directly responsible for helping CISOs navigate those waters. [18:28] The reaction from the governing bodies is directly related to the needs of the position. They’re trying to help make sure that we are positioned in a way that gets us the most possibility of success, maturing our postures and protecting the institutions. Web NAFCU digital@nafcu.org America/New_York public
The Evolving Role of the CISO in Credit Unions
preferred partner
DefenseStorm
Podcast
AI in Action: Redefining Disaster Preparedness and Financial Security
Strategy
preferred partner
Allied Solutions
Blog Post
Get daily updates.
Subscribe to NAFCU today.