Economic Update – March 15, 2024

Economic Update – March 15, 2024

1. CURRENT ECONOMIC CONDITIONS (BEIGE BOOK) • According to the March 6th, 2024, release of the Federal Reserve’s Beige Book, national economic activity increased over the previous six-week period. • Eight of the twelve Federal Reserve districts reported slight to...

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Economic Update – February 23, 2024

Economic Update – February 23, 2024

1. INFLATION • According to the Bureau of Labor Statistics, the Consumer Price Index rose 0.3% month over month in January and 3.1% annually. • The monthly pace of CPI rose above market expectations and triggered a brief reversal in equity markets. Fed officials have...

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Economic Update – February 9, 2024

Economic Update – February 9, 2024

1. FOMC INTEREST RATE DECISION • The FOMC left its benchmark federal funds rate unchanged at its January policy meeting as improving inflation and consumer expectations data has reduced the committee’s need to continue its monetary tightening. Still, the timing of...

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Economic Update – January 26, 2024

Economic Update – January 26, 2024

1. GDP • Real US GDP expanded at a 3.3% annualized rate during Q4 of 2023, according to the advanced estimate from the US Bureau of Economic Analysis. The estimate surpasses the consensus projection of 2% and follows a 4.9% growth rate in Q3, bringing total 2023 US...

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Economic Update – January 5, 2024

Economic Update – January 5, 2024

1. DECEMBER JOBS REPORT • US nonfarm payrolls increased by 216,000 in December, above November’s growth of 173,000 jobs and exceeding the consensus estimate of 170,000 according to the Census Bureau’s latest employment report. • Meanwhile, initial jobless claims fell...

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Economic Update – December 22, 2023

Economic Update – December 22, 2023

1. 2024 US MULTIFAMILY OUTLOOK • According to a recent forecast by Yardi Matrix, the US multifamily sector faces a mixed outlook in 2024. While apartments have performed relatively healthily during the Fed’s ongoing tightening cycle, sector valuations will face...

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