CUNA News
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • LOG IN
  • Create Account
  • Sign Out
  • My Account
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • Advertise
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact

News

Home » Schenk gives Fox Business end of year inflation projections
Policy & Issues

Schenk gives Fox Business end of year inflation projections

December 1, 2021

Inflation rates will rise by 5% by the end of December, CUNA Chief Economist Mike Schenk said in a recent story by Fox Business. 

"Unlike the Great Inflation era, pandemic recovery will not require a strong policy response to squash inflation expectation. The Federal Reserve will allow inflation to run hot, ensuring those who were on the front lines of the pandemic can recover on the backend." 

According to the Consumer Price Index, inflation is currently rising, reaching 5.4% year-over-year—the highest level in nearly four decades.  

Though inflation numbers are high, Schenk believes they will soften as recovery continues. 

"It’s also important to note that there is a large and misleading base-effect in the current annual data. A year ago the second wave of the COVID crisis was raging and people were hunkered down—they weren’t spending much. While-year-over-year price increases are high, monthly increases have been trending down recently." 

Credit Union Magazine: Spring 2023

Spring 2023

Credit Union Magazine’s Spring 2023 issue features the 2023 Credit Union Heroes and examines CUNA-League advocacy priorities, board leadership, the impact of financial well-being efforts, fee-related compliance issues, predictions for the year ahead, and more.
Digital Edition •  Subscribe

Trending

  • Mascot Madness: East winner crowned; Midwest voting opens

  • Federal Reserve announces July launch for FedNow Service

  • Bill would establish ‘appropriate compliance timeline’ for section 1071

Tweets by CUNA_News

Polls

CUNA Mascot Madness: Which West Region mascot is your favorite?

View Results
More

Champion for the Credit Union Movement

Credit Union National Association is the most influential financial services trade association and the only national association that advocates on behalf of all of America's credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • Membership
  • Contact Us
  • Careers

Resources for

  • Credit Union Advocates
  • Leagues
  • Press
  • Providers

Our Affiliates

  • American Association of Credit Union Leagues (AACUL)
  • Credit Union Awareness
  • Credit Union House
  • CUNA Strategic Services
  • National Credit Union Foundation
GET CUNA UPDATES
© 2023 Credit Union National Association | ADA Compliance Notice & Legal
Email Us