Federal Reserve officials ramped up their battle against the fastest inflation in 40 years on Wednesday, ushering in a third straight supersize rate increase while projecting a more aggressive path ahead for monetary policy, one that would lift interest rates higher and keep them elevated longer. Central bankers raised their policy interest rate by three-quarters of […]
State Auditor Suzanne Bump announced Thursday that her office has determined that the state’s tax revenue last year exceeded the allowable limit by nearly $3 billion, confirming the estimate put forward by Gov. Charlie Baker and clearing the way for the money to be returned to taxpayers. Chapter 62F, a law approved by voters in 1986, sets limits on […]
By Claire Ballentine and Natalie Wong September 6, 2022 at 12:25 PM EDTUpdated onSeptember 6, 2022 at 4:03 PM EDT It was standing room only for commuters on the New York-bound train leaving Summit, New Jersey, at 5:38 a.m. Tuesday. Traffic on the Long Island Expressway was at a crawl as rain poured down, while […]
In May 2022, the Federal Reserve’s Federal Open Markets Committee raised its Federal Funds rate by 50 basis points. In June, the Fed again raised the Federal Funds rate by another 75 basis points. And in mid-July, the Federal Reserve raised rates another 75 basis points. Analysts anticipate that the Fed will continue to raise […]
The life sciences sector continued to grow in the Bay State last year, adding another 12,000-plus workers and nearly 16 million square feet in real estate between 2020 and 2021. That’s according to a new report from the Massachusetts Biotechnology Council, the trade group better known as MassBio. UPGRADE TO NATIONWIDE ACCESS Get Industry Insights […]
The Inflation Reduction Act of 2022 that President Joe Biden signed into law on August 16 would reduce cumulative deficits by $264 billion over its 10-year budget window, according to a study by the Penn Wharton Budget Model (PWBM), a nonpartisan research initiative that analyzes the fiscal impact of public policy. PWBM’s estimate on the deficit reduction was lower than […]
It has been a brutal half-decade for retail owners amid record-breaking retailer bankruptcies and a pandemic that brought in-person shopping to a temporary halt. But the fundamentals of retail real estate are looking better now that at any point in over a decade, according to a new report. Retail availability nationwide is at its lowest […]
CRE Lending Powers Fast Community Bank Growth But as Rates Rise, So Does Caution By Diane McLaughlin Banker & Tradesman Staff Local banks and credit unions have emerged as big winners from the 65 percent year-over-year- growth in commercial mortgage volumes statewide this year. Community banks and credit unions accounted for more than half the […]
Both gateway and Sun Belt markets recorded strong growth. U.S. commercial real estate investment volume rose 10 percent year-over-year in the second quarter of 2022, to $167 billion, with industrial and logistics investments providing nearly $32 billion of the total and office $24 billion, according to a recent CBRE report. Trailing four-quarter volume totaled a […]
Consumer Price Index, year-over-year percentage change By Courtenay Brown via Axios Inflation soared to a fresh four-decade high in June, as prices rose 9.1% from last year — 1.3% from the prior month — the government said on Wednesday. Why it matters: The price shock is tanking Americans’ view of the economy — and risks pushing the Federal Reserve into moving aggressively […]
