ALBANY, N.Y. (10/9/15)--A CUNA senior economist, along with other leading economists, forecasters and an economic journalist, provided insights into the nation’s economy and its impact on credit unions during the 2015 Northeast Economic Forum Tuesday and Wednesday in Saratoga Springs, N.Y.
More than100 individuals attended the forum, said the New York Credit Union Association (NYCUA) (The Point Oct. 8).
Mike Schenk, CUNA’s vice president of economics and statistics, shared credit union data and trends on Tuesday. He appeared optimistic about the nation’s economy and explained how the state of the economy is impacting credit unions. He also provided insights into the credit union movement, said NYCUA.
Tuesday’s opening speaker, Hugh Johnson, financial adviser with more than 40 years of investment experiencing, discussed the strength of the stock market and offered a generally positive economic outlook for investors.
Dr. Nick Perna, economist and professor who has appeared on national news media such as CNN, CNBC, the NBC Nightly News, ABC Radio and National Public Radio, focused on the Federal Reserve’s policies and the Fed’s desire to raise short-term interest rates by the end of this year.
The closing keynoter, Fox News anchor and economic journalist Stuart Varney, spoke against the Dodd-Frank Act and said credit unions were victims of over-regulation. He also discussed the 2008 financial crisis and its consequences, noting that the last election was tied to public reaction to the crisis, with media contributing to consumers’ guarded approach to investing. He tied future economy to changes in political leadership.
Leading educational breakout sessions were:
NYCUA President/CEO William J. Mellin concluded the event, saying, “Whether you’re serving on a board, a chief financial officer, a CEO, or whatever you do, this is just a phenomenal movement that does phenomenal things for New York consumers.”