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FOR IMMEDIATE RELEASE | September 22, 2021

Fed Says Tapering Asset Purchases Could be Near

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 indicated that it will begin to taper asset purchases soon – most likely in November – amid ongoing improvement in the economy,” said NAFCU Chief Economist and Vice President of Research Curt Long. “While there is a divide among committee members as to when liftoff will occur, most seem to view that will be appropriate either in late 2022 or early 2023. The fact that the committee made a meaningful revision to its outlook on rates while only marginally increasing its projections for core inflation will cause further doubts among market participants in the FOMC’s commitment to its average inflation target framework.”

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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.