CUNA economist: FOMC remains cautious with decision to forgo rate hike
WASHINGTON, DC (July 27, 2016) — Following the announcement by the Federal Open Market Committee (FOMC) today that it would not raise interest rates, CUNA Senior Economist Perc Pineda released the following:
“The FOMC’s decision to keep the federal funds rate unchanged at its meeting today confirms our view that U.S. economic growth continues to be modest. Brexit has had minimal effects on the U.S. financial market so far, the dismal May job numbers were an aberration – given strong job gains in June – and inflation is creeping up, but the uncertainty of the pace of economic expansion has kept the FOMC cautious. We will know how the U.S. economy has fared recently Friday when the second quarter GDP advance estimates arrive.”
About CUNA
Credit Union National Association (CUNA) is the only national association that advocates on behalf of all of America’s credit unions, which are owned by 135 million consumer members. CUNA, along with its network of affiliated state credit union leagues, delivers unwavering advocacy, continuous professional growth and operational confidence to protect the best interests of all credit unions. For more information about CUNA, visit cuna.org. To find your nearest credit union, visit YourMoneyFurther.com.
