X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
U.S. dollar bill with negative stock values printed on it Source: Shutterstock.

Credit unions should brace for a slowdown or recession after the Fed slammed on the brakes with its largest rate hike in nearly 30 years, a NAFCU economist said Wednesday.

NAFCU Senior Economist Curt Long said Wedneday’s 75-basis-point increase in the federal funds rate was the largest since 1994, and half of the members of the Fed’s Open Market Committee (FOMC) expect to raise the rate by at least another 175 basis points by year’s end.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Jim DuPlessis

A journalist for decades.

More from this author

Dig Deeper

 

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2022 ALM Global, LLC. All Rights Reserved.