NAFCU Research: Fed Beige Book Responds to Critics of Rate Hikes

FOR IMMEDIATE RELEASE | July 17, 2019

NAFCU Research: Fed Beige Book Responds to Critics of Rate Hikes

WASHINGTON – The National Association of Federally-Insured Credit Unions (NAFCU) Chief Economist and Vice President of Research Curt Long released the following statement after the Federal Reserve released its Beige Book:

“The tenor of the Fed’s latest Beige Book is a positive one, and answers critics of previous rate increases. It surmises that there is a bit more heat in the economy than those critics would suggest. Wage growth and inflation have been lower than expected because, respectively, employers have been ramping up benefits and companies are facing heightened competition. With markets having fully priced in a rate cut later this month, this report seems designed to temper expectations for further easing this year,” said NAFCU Chief Economist and Vice President of Research Curt Long.

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