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.
A Dual Mandate Double Feature
The job of the Federal Reserve is straightforward: keep the U.S. economy on solid footing with good growth. Through the Federal Open Market Committee, the Fed sets monetary policy with two goals in mind – maximum employment and stable prices – commonly known as its “dual mandate.” This week’s economic prints exhibited a dual mandate…
Powell Holds Rates Steady, Trump Nominates Replacement Chair
Recent headlines surrounding the Federal Reserve have varied. On the monetary policy front, macroeconomic conditions appear solid, with tariff-driven inflation concerns largely overstated and unemployment holding steady. Away from economic fundamentals, Chair Powell continues to face political pressure as his term as Fed Chair nears its conclusion. The Federal Reserve held its first meeting of…
The State of the Union in Agency CMBS
Commercial real estate capital markets, particularly in the multifamily space, are taking the “new year, new me” mantra very seriously. Liquidity is bountiful in the space; trading spreads have tightened significantly; and a regime change is on the horizon at the Federal Reserve. The Federal Housing Finance Agency (FHFA) increased agency multifamily loan purchase caps…