In this week's Real Estate News in Brief… a decision on interest rates, the best tech cities, and a growing retirement savings gap.
We begin with economic news from this past week, and a Federal Reserve decision to leave short-term interest rates unchanged. It said in a statement that the economy continues to expand at a “moderate” pace and the labor market “remains strong.” There are signs the economy is faltering however, including lower inflation rates. But, Fed Chief Jerome Powell doesn’t feel that monetary policy should be based on any one “data point” so he’s content to monitor the situation. The Federal Reserve Board is divided on the need for a rate cut. According to MarketWatch, nine Fed officials don’t see a rate cut this year. Eight others see one or two.