According to an annual report by the congressional Joint Committee on Taxation, the subsidy to the credit union industry will cost taxpayers $14.4 billion over the five years from 2016 to 2020. The value of the tax exemption is expected to climb by nearly 25 percent over this period, growing from $2.6 billion per year in 2016 to $3.2 billion in 2020 — thus indicating that the exemption will continue to balloon in following years.
New York Fed: Consumer short-term inflation expectations slip in February
Consumer inflation expectations in February declined at the short-term horizon and remained unchanged at the medium- and longer-term horizons, the Federal Reserve Bank of New York reported in its most recent Survey of Consumer Expectations.
