Robert Frick | Source | Corporate Economist at Navy Federal Credit Union
Robert Frick
Corporate Economist for the world's largest credit union serving the military and their families. Provides expertise in economics as it relates to core businesses, including home, auto and consumer lending, credit cards and financial planning, while also preparing economic forecasts for credit union leadership. Other responsibilities include tracking and analyzing interest rates and Federal Reserve actions; and discussing views on these issues to members of the media.
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Navy Federal Credit Union (https://www.navyfederal.org)
Corporate Economist
started Nov 2009
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Solid US hiring lowers unemployment rate in latest sign of a still-sturdy job market
The report from the Labor Department showed that the unemployment rate dropped from 3.9% to 3.7%, not far above a five-decade low of 3.4% in April.
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The economy just keeps growing, new GDP report shows - Marketplace
Economists expected a downturn in economic growth from the first quarter’s 2% annual rate. Instead, growth accelerated to 2.4%.
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July inflation report likely to show prices climbed for the first time in a year
The Labor Department on Thursday will release new July consumer price index data, which is expected to show inflation posted a surprise increase last month.
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Home Equity Loans: A Viable Option for Emergencies?
Robert advises that home equity loans can be a prudent choice for emergencies, but warns of the risks since your home is collateral. He suggests qualifying for a HELOC as a precaution. For alternatives, consider borrowing against a 401(k) without withdrawing funds to avoid penalties, and steer clear of high-interest payday and car title lenders. -
High-Yield CDs: A Safe Bet for Risk-Averse Savers
Robert advises that high-yield CDs are ideal for those avoiding market risk. He notes, “interest rates for CDs are falling,” urging savers to lock in rates soon. He recommends laddering CD terms to ensure a good average return, as “gambles rarely pay off” due to unpredictable rate paths.
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For a significant increase in new homes, municipalities are going to have to work harder to make more land available for building.
