FOR IMMEDIATE RELEASE
August 1, 2022
In the July 2022 CUNA Economic Update, Senior Economist Dawit Kebede, PhD, comments on the Federal Reserve’s Open Market Committee meeting and the chances of a recession.
Highlights from the July update include:
“It is very difficult to say that the economy is in a recession when you have a labor market this strong. A strong labor market implies strong consumer demand.” – Dawit Kebede, PhD
Federal fund rate predictions
We have a problem: price increases
“Prices have increased 9.1% year over year and on a monthly basis that increase was 1.3% from May to June. That's really a very big increase … However, energy prices have contributed to half of the increase during that time. If that was not the case, inflation would have been half of that.”
Dawit Kebede, PhD, is a Senior Economist for the Credit Union National Association (CUNA). He has over eight years of research experience with a focus on trade, employment, and consumer finance. Kebede has been quoted by Fox Business, CNBC.com, and MarketWatch, among other outlets.
Please contact Kandie Stroud (email@example.com) to set up an interview with CUNA Senior Economist Dawit Kebede.
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