The Federal Reserve increased its benchmark interest rate one-quarter of a percentage point Wednesday—a decision that is likely to have little immediate impact, credit union economists said.
"On the whole, the impact of a quarter-point rate hike on U.S. households should be minimal," said NAFCU Chief Economist and Director of Research Curt Long.
The increase was the first this year and additional increases are expected next year, with the Fed saying that the expectation of inflation has increased considerably.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
