Home Info Newsroom Lending Likely to Slow in ’23, Recession Possible in '24 or '25, Suggests New CUNA Mutual Forecast
Lending Likely to Slow in ’23, Recession Possible in '24 or '25, Suggests New CUNA Mutual Forecast
With the Fed now embarking on a monetary tightening cycle, credit unions should look for lending to slow next year and watch for signs of a recession, perhaps as early as summer 2024, according to a new CUNA Mutual forecast.
As part of CUNA Mutual’s March Trends Report, the company’s chief economist, Steve Rick, noted the Fed’s March 17 move to raise the federal funds effective interest rate to 0.33% was the first move to increase rates since March 16, 2020.
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