U.S. President Donald Trump told reporters on Monday he is “very, very close” to making his decision on who should chair the Federal Reserve.
Trump has interviewed five candidates for the position, including the current Fed Chair Janet Yellen, whose term expires in February.
President Donald Trump recently called the North American Trade Agreement (NAFTA) the “worst trade deal in history” and said he would renegotiate or dissolve it. He also discussed the possibility of slapping a 35 percent tariff on Mexican-made products imported to the United States.
NAFTA logistics activity has generated tremendous capital investment in U.S. industrial real estate over the last 20 years.
After predicting an uptick in U.S. economic growth and interest rates six months ago, real estate economists have tempered their forecasts, moving closer to the predictions of one year ago. While the April 2017 optimism could be attributed to proposals to reform the tax code, reduce regulatory burdens, and invest in infrastructure, little progress has been made on tax reform and infrastructure and the economy seems to be back to business as usual after the global financial crisis.
As a result, real estate economists now have lower expectations about economic growth, employment growth, and interest rates than they had in the spring. Key real estate metrics, such as NCREIF Property Index (NPI) returns and transaction volumes, which showed little change six months ago, have moved slightly lower in this survey. While expectations have moderated, forecasters predict that the current expansion is poised to set an all-time longevity record and real estate will clearly benefit.
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