NAFCU -More on FOMC extends interest rate pledge

The FOMC believes that by keeping rates lower for a longer time, it may boost a variety of lending markets that are related to it, the economist said. “But with rates already low, this is not likely to make economic waves,” he cautioned. “The time extension of the historically low federal funds rate will make improvements on interest income more difficult for credit unions.” Ultimately, credit unions should plan accordingly for the extension of the low-rate environment. “They should expect interest income to remain tepid,” he said.
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