RealPage Economy Express Episode 25

Episode 25: Are we getting any closer to rate cuts?

  • U.S. payroll employment rose by 303,000 positions in March, exceeding the 12-month average gain, according to the Bureau of Labor Statistics (BLS).
  • The Consumer Price Index (CPI) increased by 0.4% in March, contributing to a 3.5% rise over the past 12 months, per the BLS. Primary contributors to the monthly increase were the index for shelter and the index for gasoline.
  • The National Association of Realtors reports existing-home sales declined by 4.3% in March.
  • Building permits and housing starts declined in March, indicating a mixed picture in the construction sector.
  • Federal Reserve Chair Jerome Powell reiterated a cautious approach to rate cuts, emphasizing the need for more progress on inflation before consideration.
  • The Fed’s target inflation rate is 2%. Inflation was at 3.5% in March, according to the BLS.

For more information on the state of the U.S. Economy, including forecasts, watch all the episodes of the Economy Express series.