Newsroom
Fed expected to reveal more about eventual plan to taper assets
The Federal Open Market Committee (FOMC) – the Fed's monetary-policy setting arm - begins its September meeting today and is expected to hold the federal funds target rate range at its current 0 percent to 0.25 percent for the foreseeable future. The rate has remained at its current level since March 2020.
Federal Reserve Chairman Jerome Powell has previously outlined three standards that must be met before the FOMC will consider raising rates:
- inflation has reached 2 percent and stayed at that level for some time;
- longer term inflation expectations remain well anchored at 2 percent; and
- the labor market has sufficiently recovered.
Regarding when the Fed will begin to taper asset purchases, minutes from the committee's last meeting, revealed that despite strong indicators of economic activity and employment, a vast majority of participants judged that the Committee’s standard of “substantial further progress” toward the maximum-employment goal set out by the committee had not been met.
Additionally, while in discussion of current conditions, most participants noted that with progress on vaccinations and strong policy support, indicators of economic activity and employment had continued to strengthen.
The FOMC's two-day meeting will conclude tomorrow; the committee is expected to next meet Nov. 2-3.
Access up-to-date economic updates from NAFCU's award-winning research team here.
Share This
Related Resources
Add to Calendar 2024-05-03 14:00:00 2024-05-03 14:00:00 Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing About the Webinar In January 2024, Pentegra conducted a survey of retirement plan sponsors and their perspectives on retirement plan management and fiduciary outsourcing. The survey measured how sponsors are using fiduciary outsourcing to help better manage their retirement plans. It also captured their perspectives on what outsourcing does to help them better position their plans and drive improved retirement plan outcomes. Key Takeaways: What is the full scope of your responsibilities as a plan sponsor? What is fiduciary outsourcing and how does it work? How does fiduciary outsourcing help reduce workloads and minimize risk? How can a credit union best position its plan to drive improved outcomes? Register Here Web NAFCU digital@nafcu.org America/New_York public
Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing
preferred partner
Pentegra
Webinar
Ensuring Safety and Soundness with AI
Management, Consumer Lending, FinTech
preferred partner
Upstart
Blog Post
Turning Lemons into Lemonade: Capitalizing in a Post-Banking Crisis Era
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-05-02 14:00:00 2024-05-02 14:00:00 Mastering Resilience in Incident Response Plans About the Webinar An Incident Response (IR) plan is crucial for guiding credit unions through major incidents efficiently and effectively. However, many IR plans lack resilience, making them less adaptable to the evolving threat landscape. Join us for our webinar Mastering Resilience in Incident Response Plans where DefenseStorm cyber experts Elizabeth Houser and James Bruhl will delve into the importance of resiliency within cybersecurity IR plans. Don’t miss out on the opportunity to learn how to: Ensure IR plan accessibility so that all team members with assigned roles are prepared for effective incident response. Conduct efficient and regular reviews to ensure roles and responsibilities are current, tools are relevant, and compliance requirements are met. Implement and utilize tabletops to regularly test the effectiveness of your IR plan. Enhance preparedness, efficiency, and confidence among responders. View On-Demand Web NAFCU digital@nafcu.org America/New_York public
Mastering Resilience in Incident Response Plans
preferred partner
DefenseStorm
Webinar
Get daily updates.
Subscribe to NAFCU today.