The Federal Reserve left its benchmark interest rate unchanged after the Federal Open Market Committee's meeting Tuesday and Wednesday, and one observer said the Fed is being bullied into keeping rates low.
"The mere mention of a rate hike sends the market into convulsions. That's the big reason why the Fed has been gun shy on raising rates," Greg McBride, chief financial analyst at Bankrate.com, said in an interview with CU Times.
He argued the Fed needs to raise rates now, before another economic downturn.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
