The Fed's decision to hold rates flat last week is a very positive sign, according to a new video by Marcus & Millichap, "but we're not in the clear yet," said John Chang, its Executive Vice President of Research and Client Services.
"The November fed meeting will be key," he said. "If they hold rates flat at that meeting, as Wall Street currently expects, then the commercial real estate industry will have even more clarity." Last week, as virtually everyone expected, the Federal Reserve held the overnight rate flat in the 5.25 to 5.5% range.
Although Chairman Powell remains non-committal, it's widely believed that the Federal Reserve will keep rates stable through the remainder of this year and into 2024, Chang said.
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