Economy
From interest rates to inflation, understand the impact of macroeconomic trends on the real estate capital markets.
The Beyond Insights series aims to deliver timely economic and market-driven insights to better inform your commercial real estate investment decisions.
Markets
From local market rents to cap rates, catch up on the latest capital markets insights.
Learn moreU.S. ECONOMIC MACRO COMMENTARY & INSIGHTS
March FOMC Meeting Recap – Oil Shock Ushers in Fed Pause
- The FOMC held rates steady, signaling that further easing is contingent on renewed inflation progress
- Updated Summary of Economic Projections showed higher near-term inflation expectations
- Rising energy prices have re-elevated inflation risks, reinforcing the Fed’s pause
The Federal Open Market Committee held its March meeting on Wednesday, March 18, providing the market with forward guidance when it needed it most. Prior to the meeting, analysts were navigating a macroeconomic environment with both sides of the Fed’s dual mandate under pressure. Recent Personal Consumption Expenditures (PCE) and Consumer Price Index (CPI) prints showed lingering signs of upward price pressures caused by tariffs.
change in projected fed funds rate
2026 Multifamily Investor Sentiment Survey
In December 2025, we surveyed over 250 of our trusted clients from various companies, with most holding senior-level titles, for our second annual Multifamily Investor Sentiment Survey. Our goal is to provide a comprehensive view of current market sentiments to our clients, and we plan to share our findings in our detailed report.
2026 Multifamily
Powerhouse Poll
In Berkadia’s Annual Multifamily Powerhouse Poll, we surveyed over 200 investment sales advisors and mortgage bankers to offer their unique perspectives on the state of the commercial real estate (CRE) industry.
Fed Cuts Rates by 25 bps at September FOMC Meeting
Federal Open Market Committee (FOMC) members voted to resume their rate-cutting campaign at the September Fed meeting—the FOMC cited concerns of a weakening labor market as cause to cut rates for the first time in nine months. Fed officials lowered their benchmark interest rate by a quarter percentage point to 4.00%–4.25% and penciled in two…
Cracks Emerging in Labor Market, Bets Grow for September Cut
In the span of two days, the macro market feels like it has been turned upside down. On Wednesday, the Federal Open Market Committee (FOMC) voted to hold its benchmark rate steady at 4.25%–4.50% during the July meeting. Notably, Fed Governors Waller and Bowman dissented, advocating for a rate cut—the first dual dissent since 1993.…
Inflation Prints Begin to Show Signs of Tariff Pressure
The June Consumer Price Index (CPI) print was released on Tuesday – underlying inflation rose by less than expected; however, the underlying details signaled that companies are beginning to pass some tariff-related costs onto consumers. The core CPI print, which excludes food and energy prices, increased 0.2% from May, according to the Bureau of Labor…