Newsroom
March 15, 2017
FOMC increases rates 25 bps
The Federal Open Market Committee, at the close of its two-day policy-setting meeting, today said it will raise the federal funds target rate by a quarter-point to a range of 0.75 to 1 percent.
"As anticipated, the FOMC went forward with the first rate hike of 2017," said NAFCU Chief Economist and Director of Research Curt Long. "Given that inflation is rising and approaching the Fed's 2 percent target, Fed officials had little choice but to raise rates."
"Chair Janet Yellen has indicated that more rate hikes are on the way later this year," Long added.
The committee's revised projections are three quarter-point rate hikes in 2017 (including the one announced today), three in 2018 and three to four in 2019. The FOMC will meet again May 2-3.
The FOMC last raised the federal funds target rate to a range of 0.5 to 0.75 percent last December.
NAFCU will also issue a NAFCU Macro Data Flash report to members today with more information on the FOMC's actions.
"As anticipated, the FOMC went forward with the first rate hike of 2017," said NAFCU Chief Economist and Director of Research Curt Long. "Given that inflation is rising and approaching the Fed's 2 percent target, Fed officials had little choice but to raise rates."
"Chair Janet Yellen has indicated that more rate hikes are on the way later this year," Long added.
The committee's revised projections are three quarter-point rate hikes in 2017 (including the one announced today), three in 2018 and three to four in 2019. The FOMC will meet again May 2-3.
The FOMC last raised the federal funds target rate to a range of 0.5 to 0.75 percent last December.
NAFCU will also issue a NAFCU Macro Data Flash report to members today with more information on the FOMC's actions.
Share This
Related Resources
Add to Calendar 2024-05-03 14:00:00 2024-05-03 14:00:00 Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing About the Webinar In January 2024, Pentegra conducted a survey of retirement plan sponsors and their perspectives on retirement plan management and fiduciary outsourcing. The survey measured how sponsors are using fiduciary outsourcing to help better manage their retirement plans. It also captured their perspectives on what outsourcing does to help them better position their plans and drive improved retirement plan outcomes. Key Takeaways: What is the full scope of your responsibilities as a plan sponsor? What is fiduciary outsourcing and how does it work? How does fiduciary outsourcing help reduce workloads and minimize risk? How can a credit union best position its plan to drive improved outcomes? Register Here Web NAFCU digital@nafcu.org America/New_York public
Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing
preferred partner
Pentegra
Webinar
Turning Lemons into Lemonade: Capitalizing in a Post-Banking Crisis Era
Strategy
preferred partner
Allied Solutions
Blog Post
Ensuring Safety and Soundness with AI
Management, Consumer Lending, FinTech
preferred partner
Upstart
Blog Post
Add to Calendar 2024-05-02 14:00:00 2024-05-02 14:00:00 Mastering Resilience in Incident Response Plans About the Webinar An Incident Response (IR) plan is crucial for guiding credit unions through major incidents efficiently and effectively. However, many IR plans lack resilience, making them less adaptable to the evolving threat landscape. Join us for our webinar Mastering Resilience in Incident Response Plans where DefenseStorm cyber experts Elizabeth Houser and James Bruhl will delve into the importance of resiliency within cybersecurity IR plans. Don’t miss out on the opportunity to learn how to: Ensure IR plan accessibility so that all team members with assigned roles are prepared for effective incident response. Conduct efficient and regular reviews to ensure roles and responsibilities are current, tools are relevant, and compliance requirements are met. Implement and utilize tabletops to regularly test the effectiveness of your IR plan. Enhance preparedness, efficiency, and confidence among responders. View On-Demand Web NAFCU digital@nafcu.org America/New_York public
Mastering Resilience in Incident Response Plans
preferred partner
DefenseStorm
Webinar
Get daily updates.
Subscribe to NAFCU today.