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FOR IMMEDIATE RELEASE | December 13, 2017

NAFCU Chief Economist Curt Long Weighs in on Fed Interest-Rate Increase

FOR IMMEDIATE RELEASE

Washington (Dec. 13, 2017) -- National Association of Federally-Insured Credit Unions (NAFCU)Chief Economist Curt Long issued a statement following the Federal Reserve's announcement of a quarter-point increase in the federalfundstarget rate to a range of 1.25 to 1.5 percent. The decision to raise rates was made during the Federal Open Market Committee (FOMC) two-day meeting.

"The FOMC's actions today were widely expected," said Long. "The committee struck a mostly positive note in its statement and appears poised for further rate hikes in the first half of 2018."

The FOMC last raised the federal funds target rate to a range of 1 to 1.25 percent in June.

The committee's revised projections call for three quarter-point rate hikes in 2018 and two to three in 2019.

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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.

Jacqueline Ramsay
jramsay@nafcu.org



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