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| Presto!! |
It appears that the end result of the Agency's quantitative analyses and economic forecasting has been to help improve the professional reputation of palm readers and astrologers...
When commenting on the future of interest rates, the Capital Markets Specialist stated most assuredly that a rise in rates was "inevitable" and that we must include that certainty in our ALM modeling and "pre-planning".
When asked "when" rates would inevitably rise, his
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| Very bullish on rates! |
We did acknowledge that we had heard of "post-mortem" planning and agreed that death did in fact appear to be "inevitable". So we asked if he were suggesting that his forecasts would inevitably lead to the death of the CU ? If so, we felt we had found an area of strong, mutual agreement....
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| NCUA specialist training... |
He did not talk much after that.....
We did thank him for his robust guidance....
3 comments:
Consider bringing some crayons and paper to your next meeting so you can have a joint planning session with your Capital Market Psychic, and see whose pre-planning is the best.
Death is "inevitable"! So pre-plan your funeral.
Interest rate rising not so much! This is the 5th or 6th year that NCUA has warned about an inevitable rise in interest rates. Some year they just may be correct. When that day eventually happens, the Capital Markets Specialist will not be able to contain themselves and they will proclaim hardly containing their hubris: "See I told you SO!"
Rumor has it that the Specialist has been nominated for an NCUA cash award for his forward thinking. This is similar to the award given to the NCUA economist last year in recognition of his robust forecasting. And the recent Board action increasing the classification and salary of the Chief of Staff. And the additional action by the Board given the Chairman to hire a Buddy, without Board approval, to advise her on how to handle the industry and give her his in tel on how to make her appear kind, warm, fuzzy and loved by those she regulates. After all, he has done a great job thus far. And in the words of Yogi Berra, "You ain't seen nothin' yet."
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