WASHINGTON – With net income margins being squeezed tighter and tighter, credit unions have their eye on what the Federal Open Market Committee, the monetary policy arm of the Federal Reserve, is going to do next.
Most economists have said they expect the Fed is finished-or nearly finished-raising its funds target rate, which currently stands at 5.25%.
The FOMC recently released its tentative schedule for when it will meet next year so credit unions can continue to follow the rate setting body. Here you go: Jan. 30-31 (Tuesday-Wednesday) March 20-21 (Tuesday-Wednesday) May 9 (Wednesday) June 27-28 (Wednesday-Thursday) Aug. 7 (Tuesday) Sept. 18 (Tuesday) Oct. 30-31 (Tuesday-Wednesday) Dec. 11 (Tuesday) Jan. 29-30, 2008 (Tuesday-Wednesday)
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