America’s Credit Unions Head of Emerging Issues/Deputy Chief Economist Curt Long issued the following statement after this week’s Federal Open Market Committee (FOMC) meeting:

“The FOMC acted in line with expectations in cutting the federal funds rate by 25 basis points. America’s Credit Unions anticipates another quarter-point rate cut next month. In his press conference, Chair Powell dismissed concerns about rising inflation expectations and cited further disinflation in shelter costs that are yet to be incorporated into the government calculations. Regardless of the rate environment, credit unions will continue to work tirelessly to meet the financial needs of their members.”