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In response to recent tragedies, JPMorgan Chase and Bank of America are implementing new policies to limit junior bankers' working hours. JPMorgan will cap hours at 80 per week, while Bank of America will introduce a detailed timekeeping tool. These changes follow the death of a junior banker earlier this year.
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As the Federal Reserve prepares for a likely interest rate cut on September 18, 2024, optimism is rising in the commercial real estate sector. Lower rates could stabilize property values and increase transaction volumes, particularly in struggling office markets and emerging living sectors like student housing and co-living spaces.
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Federal Reserve Chair Jerome Powell indicated that interest rates may continue to decrease as inflation approaches target levels. Following a significant half-point cut earlier this month, Powell emphasized a cautious approach, noting the economy's solid condition while acknowledging potential risks. The Fed aims for a neutral rate that neither stimulates nor restricts economic growth.