Newsroom
No rate change expected as FOMC begins 1st 2020 policy meeting
The Federal Open Market Committee (FOMC) begins its first two-day, monetary policy-setting meeting of the year today, which is not expected to end with a rate change.
The committee last lowered the federal funds target rate to the current range of 1.5 to 1.75 percent at the end of its October meeting, the third rate cut of 2019.
“Chairman Powell’s press conference will be eyed for indications in how the committee perceives various downside risks, particularly the coronavirus and its potential to impact the global economy in 2020," said NAFCU Chief Economist and Vice President Curt Long. "But the risks are not yet so clear that they would warrant a rate cut."
Following its December meeting, the committee left economic projections mostly unchanged, indicating that it anticipates rates to slowly rise in 2021 and 2022. Of note, more than half of the committee members projected that the federal funds rate will remain unchanged throughout 2020.
The FOMC will next meet Mar. 17-18; its tentative meeting schedule for 2020 can be viewed here. Stay tuned to NAFCU Today for a full recap of the meeting and a new FOMC Macro Data Flash report from the association's Research Team.
Share This
Related Resources
Add to Calendar 2024-06-26 14:00:00 2024-06-26 14:00:00 Gallagher Executive Compensation and Benefits Survey About the Webinar The webinar will share trends in executive pay increases, annual bonuses, and nonqualified benefit plans. Learn how to use the data charts as well as make this data actionable in order to improve your retention strategy. You’ll hear directly from the survey project manager on how to maximize the data points to gain a competitive edge in the market. Key findings on: Total compensation by asset size Nonqualified benefit plans Bonus targets and metrics Prerequisites Demographics Board expenses Watch On-Demand Web NAFCU digital@nafcu.org America/New_York public
Gallagher Executive Compensation and Benefits Survey
preferred partner
Gallagher
Webinar
AI in Action: Redefining Disaster Preparedness and Financial Security
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-06-21 09:00:00 2024-06-21 09:00:00 2024 Mid-Year Fraud Review Listen On: Key Takeaways: [01:16] Check fraud continues to be rampant across the country. Card fraud is affecting everyone. [04:31] Counterfeit US passport cards are just another new toolbox in the bad actors’ toolbox. [07:21] Blocking the fallback is the only way to defeat counterfeit cards. [11:17] The best way is constant education to your members in as many channels as you can. [13:02] We are still seeing overdraft lawsuits. Make sure the programming you have at your credit union matches what you have displayed for the members. Web NAFCU digital@nafcu.org America/New_York public
2024 Mid-Year Fraud Review
Strategy & Growth, Consumer Lending
preferred partner
Allied Solutions
Podcast
Get daily updates.
Subscribe to NAFCU today.