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FOR IMMEDIATE RELEASE | October 13, 2021

Fed Plans on Tapering Assets by November

WASHINGTON – The National Association of Federally-Insured Credit Unions (NAFCU) Chief Economist and Vice President of Research Curt Long issued the following statement following the Federal Reserve’s meeting:

“The FOMC is committed to announce that it will begin tapering asset purchases at its November meeting,” said NAFCU Chief Economist and Vice President of Research Curt Long. “That process should wind down in mid-2022, at which point the path will be clear for a rate hike. NAFCU expects liftoff to occur in the fourth quarter of next year.”

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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 to www.nafcu.org or @NAFCU on Twitter.