What Grade Does the Fed Give the Economy?

First off, another example of corporate citizenship. Hubbard Broadcasting is launching a statewide effort to raise funds for the victims of Hurricane Helene and Milton. Minnesota first responders and volunteers are heading south as well.  Click here to find out how you can help.

And the teaser for this week: what grade does the Fed give the economy? President Kashkari gives the economy high marks and expects more interest rate cuts before the year’s end. Interest rates were cut .50% in September, very welcome and steeper than the typical 0.25% cut. Kashkari:  “Right now I give the economy an ‘A.’ The economy is changing. We still have a strong labor market, and inflation is coming down. We’re not where we want to get to yet on inflation, but we’re making progress…. It’s an ‘A,’ but its in transition.” His remarks are echoed by those of the largest US banks, through last week’s earnings releases and comments on continued strong consumer spending.

And one final note for your reading pleasure: last week TC Business published a good article, “Resuscitating Downtown St. Paul,” along with a companion interview of Ecolab’s CEO, Christophe Beck. As Saint Paul explores options to address the real estate “crossroads,” I particularly like what Christophe Beck says:  “When talking about public safety, homelessness, and economic development growth, the main thing to remember is that these issues are very much intertwined. And solving community issues requires a community solution. What I am getting at here is that true collaboration is the only answer. Only when government, private sector, and nonprofit organizations come together can we foster positive, real change.”

Come learn more about Saint Paul real estate at our November Lunch With Leaders with panelists from the Saint Paul Downtown Alliance and the real estate community.