The NCUA has released its December economic update, including advice from its chief economist about interest rate risk.
The video update from Chief Economist John Worth focuses on the Fed’s guidance earlier this month that it would keep the federal funds rate exceptionally low as long as unemployment remains above 6.5%, the agency said.
“Some interpreted the statement as committing the Fed to low-rate policies through 2015. However, NCUA’s Chief Economist John Worth explains that is not necessarily going to be the case, and credit unions need to remain vigilant about interest rate risk,” the NCUA announcement said Thursday.
The agency recommends its monthly economic update series on YouTube as an informational resource for credit union board members, loan officers and management.