No rate change expected as FOMC begins final policy meeting of 2019
The Federal Open Market Committee (FOMC) begins its two-day, monetary policy-setting meeting today and is expected to release updated projections.
Following October's rate cut and decision to drop language regarding efforts to act "as appropriate to sustain the expansion," NAFCU Chief Economist and Vice President of Research Curt Long predicted no further rate changes for this year. The federal funds target rate is currently set at a range of 1.5 to 1.75 percent.
"The hurdle for another rate move will be significantly higher as the Fed assesses the impact of its easing campaign, with the hopes that it can maintain what little ammunition they have in case of a deterioration in the real economy," said Long in NAFCU's FOMC Macro Data Flash report after the October meeting.
NAFCU has met with members of the committee throughout the year to advocate on key credit union issues, including CECL and efforts to make payments faster and more secure.
Last month, members of the NAFCU Board of Directors sat down at the Federal Reserve with Board Governor Michelle Bowman to review various economic and regulatory trends affecting credit unions as outlined in NAFCU's annual Report on Credit Unions – now available for download.
Additionally, NAFCU's Research Team connected representatives from member credit unions with Federal Reserve Banks in six meetings nationwide.
The FOMC will next meet Jan. 28-29, 2020; its tentative meeting schedule for 2020 can be viewed here. Stay tuned to NAFCU Today for a recap of the meeting.
Add to Calendar 2020-08-06 14:00:00 2020-08-06 14:00:00 Bankruptcy Essentials Sometimes numbers can be deceiving; take your Delinquency Ratio, for example. It probably looks pretty good right now. Unfortunately, it does not warn that there is a wave of delinquencies heading your way! Record unemployment and a fractured economy will not bring good news. It won’t be long before the stimulus money, modifications and forbearances and other rescue options are exhausted. Many of your members are going to be heading to the local bankruptcy attorney and you need to be prepared. The world of the delinquent member is never boring and never stands still. Much has happened over the last few months that directly impacts your Collections Department. It’s never too late to sharpen your skills and better position your institution to assist troubled members who want to work with you during these unprecedented times and maximize the recovery from everyone else. From the teller line to the collections department, your credit union needs to be ready for every twist and turn a bankruptcy filing will create. This overview examines the five essential lessons you need to learn before the bankruptcy storm hits. It is designed for the collections professional who wants to sharpen their skills in this debtor friendly world before it is too late. We will examine the current state of consumer bankruptcy and how it continues to impact institutions. From best practices to the most common landmines to maximizing recovery methods during bankruptcy, this interactive session walks the credit union professional through the complicated world of bankruptcy in an easy to understand format. Key Takeaways Review key bankruptcy terms and concepts Discuss putting the credit union on notice Understand how to avoid automatic stay violations Learn how to reduce bankruptcy losses Discuss managing the attorney relationship Purchase Now$295 Members | $395 Nonmembers (Additional $50 for CD)One registration gives your entire credit union access to the on-demand recording until August 6, 2021.Already registered? Go to the Online Training Center to view live. Who Should Attend? NAFCU Certified Compliance Officers (NCCOs) NAFCU Certified Risk Managers (NCRMs) Compliance staff Risk staff Legal staff Education Credits NCCOs will receive 1.5 CEUs for participating in this webinar. NCRMs will receive 1.5 CEUs for participating in this webinar. CPA credit information is below; recommended 1.5 CPE credits. CPA Certification Credit Information Reviewer: Josie Collins, Associate Director of Education, NAFCU Learning Objectives: Review key bankruptcy terms and concepts. Discuss putting the credit union on notice. Understand how to avoid automatic stay violations. Learn how to reduce bankruptcy losses. Discuss managing the attorney relationship. Program Level: Basic Prerequisites Needed: None Advance Preparation Needed: None Delivery Method: Group Internet-Based Recommended CPE Credits: 1.5 credits Recommended Field of Study: Regulatory Ethics - Technical National Association of Federal Credit Unions (NAFCU) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. Learn more. About Our Webinars Our webinars are streamed live from NAFCU headquarters near Washington, D.C. Your audio/video feed of the presenters includes presentation slides and downloadable handouts. You can easily submit your questions to the presenters at any time during the live broadcast, with no dialing over the phone! The audio and video stream directly through your computer. Web NAFCU email@example.com America/New_York public
Credits: NCCO, NCRM, CPE
Get daily updates.
Subscribe to NAFCU today.