Analysts Expect Fed To Raise Rates This Week
ARLINGTON, Va.-Experts in the credit union movement are expecting the Federal Reserve to lift short-term interest rates again at this week's meeting. "I think they're going to raise rates," said Jeffrey Taylor, an economist with NAFCU, saying Fed governors are still concerned about rising inflation and rapid economic expansion. "The Fed needs to keep hiking to keep up," Taylor told The Credit Union Journal. The Fed is expected to add another 25 basis points to the target rate for overnight FedFunds, which is currently 1.5%. The Central Bank added 25 BPs in June and August to lift the benchmark short-term rate from a …
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