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FOR IMMEDIATE RELEASE | June 16, 2021

NAFCU Research: FOMC Moves its Expected Date for Liftoff to 2023

WASHINGTON – The National Association of Federally-Insured Credit Unions (NAFCU) Chief Economist and Vice President of Research Curt Long issued the following statement after the Federal Open Market Committee (FOMC) released its latest statement:

“As expected, the Fed moved forward its expected date for liftoff to 2023, and more than one-third of the committee believes it will occur in 2022. The inflation forecast increased for the current year, but not beyond. It appears that the change in the outlook for rate increases was motivated by dissipating downside risks resulting from progress in vaccine distribution, rather than the recent rise in price growth.” said NAFCU Chief Economist and Vice President of Research Curt Long.

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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.