Newsroom
No rate change expected as FOMC begins final policy meeting of 2019
The Federal Open Market Committee (FOMC) begins its two-day, monetary policy-setting meeting today and is expected to release updated projections.
Following October's rate cut and decision to drop language regarding efforts to act "as appropriate to sustain the expansion," NAFCU Chief Economist and Vice President of Research Curt Long predicted no further rate changes for this year. The federal funds target rate is currently set at a range of 1.5 to 1.75 percent.
"The hurdle for another rate move will be significantly higher as the Fed assesses the impact of its easing campaign, with the hopes that it can maintain what little ammunition they have in case of a deterioration in the real economy," said Long in NAFCU's FOMC Macro Data Flash report after the October meeting.
NAFCU has met with members of the committee throughout the year to advocate on key credit union issues, including CECL and efforts to make payments faster and more secure.
Last month, members of the NAFCU Board of Directors sat down at the Federal Reserve with Board Governor Michelle Bowman to review various economic and regulatory trends affecting credit unions as outlined in NAFCU's annual Report on Credit Unions – now available for download.
Additionally, NAFCU's Research Team connected representatives from member credit unions with Federal Reserve Banks in six meetings nationwide.
The FOMC will next meet Jan. 28-29, 2020; its tentative meeting schedule for 2020 can be viewed here. Stay tuned to NAFCU Today for a recap of the meeting.
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 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
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
Get daily updates.
Subscribe to NAFCU today.