This is a narration of Radix's weekly Rent and Operating Trends Report. The U.S. economy continues to adapt to a new paradigm. Easy money policies from both the Fed and Congress are behind us, inflation continues to run hot, and the rapid GDP growth that followed the COVID shutdowns has dwindled. The stock, commodity, and cryptocurrency markets may still be in for a period of volatility, but the general economy seems to have ground to a slow pace. The second estimate of first-quarter GDP and the April Personal Consumption Expenditures (PCE) index will both be released at the end of this week and will serve as barometers for the overall economy. GDP was initially estimated to have fallen in Q1. If the second estimate is also negative, we could be seeing the early stages of a recession sooner than many predicted. PCE is the preferred inflation measure of the Fed and will likely give us a good indication of what the Fed will do at its June meeting. Another month of high inflation will likely lead the Fed to a second consecutive 50 basis point increase in interest rates. Tune in to find out more information about multifamily dynamics during the week of May 22nd.
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