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FOR IMMEDIATE RELEASE | February 14, 2017

NAFCU Chief Economist Curt Long Statement on Federal Reserve Chair Janet Yellen's Testimony

FOR IMMEDIATE RELEASE

Washington (Feb. 14, 2017) -National Association of Federally-Insured Credit Unions (NAFCU) Chief Economistand Director of ResearchCurt Longissued the following statementtodayin response toFederal Reserve Chair Janet Yellen'stestimonyon the semiannualMonetary Policy Reportbefore the Senate Committee on Banking, Housing, and Urban Affairs.

"Chair Yellen provided an upbeat assessment of recent economic progress," said Long. "While she left herself and the rest of the FOMC plenty of room to maneuver, she did suggest that a March rate hike is on the table. Investors remain somewhat skeptical, but a strong jobs report in three weeks could tilt expectations toward a move."

The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation's federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go towww.nafcu.orgor @NAFCUon Twitter.

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Patty Briotta
Director of Public Relations
Office:703-842-2820
pbriotta@nafcu.org