The Federal Reserve Board is unlikely to raise interest rates when it meets this week, exacerbating problems for some credit unions, NAFCU Chief Economist Curt Long predicted Monday.
Long said that in the unlikely event that the Fed does raise rates, the increase would likely be 25 basis points. He added that the Fed would be unlikely to increase interest rates by more than 50 basis points next year.
Long said that low interest rates, coupled with the increased regulatory burden credit unions face, creates a difficult environment for some institutions.
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