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NAFCU's Long, on Fox News at Night, talks coronavirus, economy
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th the coronavirus outbreak having a strong impact on the economy and credit unions' day-to-day operations, NAFCU Chief Economist and Vice President of Research Curt Long has been at the forefront of this national discussion and on Friday joined Fox News at Night with Shannon Bream to offer insights.
While discussing the current economic situation and its eventual recovery, Long noted that businesses’ pre-existing cautiousness about investing their capital may increase once the current issues resolve.
“We hadn’t seen business engage in a lot of capital investment, and that was chalked up to lingering uncertainties [surrounding U.S.-related trade disputes],” said Long. “Coming out of [the coronavirus pandemic], those uncertainties will be heightened.”
With much uncertainty remaining around the pandemic’s impact on our economy, NAFCU Research developed a new brief for credit unions detailing the association’s economic projections in light of the coronavirus.
Additionally, NAFCU is aggressively lobbying lawmakers Capitol Hill to ensure credit unions’ voices are heard and they receive the relief they need to continue to serve their members well. In the recently passed CARES Act, NAFCU helped secure many legislative wins for credit unions, and the association will continue to push for more relief to help them overcome the economic impact of the virus.
You can watch the entire Fox News at Night segment here.