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June 16, 2017
CUEG members discuss economic trends at A.C.
Credit union leaders and staff flocked to hear members of the Credit Union Economics Group deliver their best take on what key trends are affecting the industry during a Thursday panel discussion at NAFCU's Annual Conference in Honolulu.
The credit union attendees, estimated at more than 200, heard from Curt Long, NAFCU's chief economist and director of research; Fred Eisel, chief investment officer for Vizo Financial Corporate Credit Union; and Scott Knapp, CFA, of CUNA Mutual Fiduciary Consultants.
Long talked to the group about the past year's developments in key economic indicators, including gross domestic product. Last reported at 1.2 percent (first quarter), GDP is expected to resume growing, with Long projecting growth approaching 2 percent by year-end.
Eisel discussed the yield curve and how that's expected to affect credit unions' and members' decisions in where they invest their funds. He noted that earlier expectations of Federal Reserve rate increases set the stage for accelerating growth in yields and tightening liquidity. The impact of the Fed's plans to reduce the size of its balance sheet is less certain.
Knapp talked about increased volatility in financial markets – specifically, the Trump effect. He noted strong investor expectations amid the new administration's early moves toward tax and health care reform but noted sustained effects will depend on how much progress is made on those issues. Looking back, Knapp said Trump's election was the biggest influence on recent market activity.
The credit union attendees, estimated at more than 200, heard from Curt Long, NAFCU's chief economist and director of research; Fred Eisel, chief investment officer for Vizo Financial Corporate Credit Union; and Scott Knapp, CFA, of CUNA Mutual Fiduciary Consultants.
Long talked to the group about the past year's developments in key economic indicators, including gross domestic product. Last reported at 1.2 percent (first quarter), GDP is expected to resume growing, with Long projecting growth approaching 2 percent by year-end.
Eisel discussed the yield curve and how that's expected to affect credit unions' and members' decisions in where they invest their funds. He noted that earlier expectations of Federal Reserve rate increases set the stage for accelerating growth in yields and tightening liquidity. The impact of the Fed's plans to reduce the size of its balance sheet is less certain.
Knapp talked about increased volatility in financial markets – specifically, the Trump effect. He noted strong investor expectations amid the new administration's early moves toward tax and health care reform but noted sustained effects will depend on how much progress is made on those issues. Looking back, Knapp said Trump's election was the biggest influence on recent market activity.
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