August 30, 2019

NAFCU, CUs meet with Chicago Fed

moneyNAFCU's Chief Economist and Vice President of Research Curt Long and Senior Counsel for Policy and Research Andrew Morris joined several member credit unions Thursday for a meeting with Federal Reserve Bank of Chicago President Charles Evans to discuss various industry issues, including the economic outlook, interest rates, lending landscape and faster payments.

Evans currently serves as a board member on the Federal Open Market Committee (FOMC) - the Fed's monetary policy-setting arm. Minutes from the FOMC's July meeting released last week revealed that committee members were divided ahead of the recent rate cut.

NAFCU continues to engage with the Fed regarding its work and met with Federal Reserve Bank of St. Louis President James Bullard and Federal Reserve Bank of Boston President Eric Rosengren in May. Long and a group of NAFCU members also met with Federal Reserve Bank of Minneapolis President Neel Kashkari earlier this year.

NAFCU is currently seeking credit unions' feedback on the Fed's proposed real-time payments system, as well as responses to the association's annual Fed Report survey, which closes today.

More information on the Federal Reserve and its regional banks is available here.