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Ignore New York At Your Peril: NYC Office Market Hits Overdrive, Breathing Life Into The City's Business And Real Estate

Comedian Jerry Seinfeld is having the last laugh. New York is back in business. During the pandemic, when The New York Times published an article questioning if New York was over, Seinfeld hit back at the hand-wringing skeptics with a Times article of his own, “So You Think New York Is ‘Dead’ (It’s not).” He was right. Recent numbers show that the Big Apple’s commercial real estate numbers are back to pre-pandemic levels as workers return to the office en masse, breathing life into surrounding b

Fed's Hammack says economic strength argued against rate cut

NEW YORK (Reuters) -Federal Reserve Bank of Cleveland President Beth Hammack said Friday she voted against the central bank’s rate cut earlier this week because economic strength and the inflation outlook argued against easing policy. With monetary policy "not far" from a neutral stance, Hammack said she wants monetary policy to hold steady "until we see further evidence that inflation is resuming its path to our 2 percent objective,” she said in a statement released Friday as the quiet period around the most Federal Open Market Committee ended. On Wednesday, the Fed met expectations and cut its federal funds target range by a quarter percentage point, to between 4.25% and 4.5%.

Bank of Russia Holds Key Rate at 21% Even as Inflation Rises

(Bloomberg) -- The Bank of Russia held its key interest rate at a record-high 21%, surprising most analysts who’d expected policymakers to opt for another big hike to try to tame persistent inflation.Most Read from BloombergNew York City’s Historic Preservation Movement Is Having a Midlife CrisisReviving a Little-Known Modernist Landmark in BuffaloThe Architects Who Built MiamiNYPD Car Chases Are Becoming More Frequent — and More DangerousDakar’s Air Quality Plummets as Saharan Dust Descends on