NAFCU Research: Beige Book reveals Fed believes inflationary pressures may last longer than expected
WASHINGTON, DC (July 14, 2021) — The National Association of Federally-Insured Credit Unions (NAFCU) Chief Economist and Vice President of Research Curt Long issued the following statement after the Federal Release released its latest Beige Book:
“The Beige Book mirrored Chairman Powell’s comments before Congress of a growing belief that inflationary pressures may last longer than once believed. Ongoing shortages in labor and materials are frustrating hopes that the economy would quickly return to normal,” said NAFCU Chief Economist and Vice President of Research Curt Long. “However, with the labor market still far from full employment, the Fed is unlikely to ease off the throttle.”
The National Association of Federally-Insured Credit Unions is the only national trade association focusing exclusively on federal issues affecting the nation’s federally-insured credit unions. NAFCU membership is direct and provides credit unions with the best in federal advocacy, education and compliance assistance. For more information on NAFCU, go to www.nafcu.org or @NAFCU on Twitter.