Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

CU System
CUNA provides analysis on FOMC action for IBloombergI
WASHINGTON (3/15/12)--A Credit Union National Association (CUNA) economist offered some analysis for Bloomberg Business Week about Tuesday's announcement by Federal Reserve Chairman Ben S. Bernanke that additional quantitative easing would be an option, even after he raised his assessment of the U.S. economic expansion.

The Federal Open Market Committee (FOMC), the Fed's policymaking body, met Tuesday and upgraded its outlook for growth, which diminished expectations that the Fed would start a third round of buying bonds, Bloomberg said.

However, the FOMC emphasized in a statement issued after the meeting that the unemployment rate is "elevated" and "significant downside risks" still exist.

Several analysts told Bloomberg that FOMC meetings in April and June would be a prime time for the Fed to take action if more fiscal stimulus is needed.

"They want to keep their powder dry in case they need to take further action later in the year," Bill Hampel, CUNA chief economist, told Bloomberg. "In case they need to do a QE3 [third round of quantitative easing], this is giving them leeway to do it if they think it's necessary later in the year."

To read the article, use the link.
Other Resources

RSS





print
News Now LiveWire
Through the snow, be on the lookout for a @CU4Kids @CMNHospitals @COOPFS billboard in @TimesSquareNYC this week
2 hours ago
.@CUNA , trades unite to urge Congress on #datasecurity action http://t.co/gzmZGX9nfF
5 hours ago
State of Wash. @dficonsumers has expanded its CAMEL ratings to include an "S" for interest-rate sensitivity.
5 hours ago
.@HUDgov tweets: Be sure to tune in tonight to watch @SecretaryCastro on @TheDailyShow with Jon Stewart http://t.co/B1L23NQaoJ
5 hours ago
.@NJCUL Southern Chapter meeting canceled due to the impending snowstorm
6 hours ago