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Jerome Powell

First-quarter GDP revised lower; Fed has other data on deck

Andrew Harrer/Bloomberg The U.S. economy slowed faster than previously realized, according to the latest revision to the government’s gross domestic product estimate.  Overall, the GDP’s rate of contraction was lowered by 30 basis points, from an annualized rate of -0.2% to -0.5%, according to the Bureau of Economic Analysis’ latest report, released Thursday. This is […]

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Mamdani’s rent-freeze agenda sparks slide in NYC-linked REITs

Shares of companies linked to New York City real estate fell Wednesday as Zohran Mamdani, a state Assembly member who has vowed to freeze rents, looks all but certain to become the Democratic nominee for mayor. During his campaign ahead of Tuesday’s primary, Mamdani called for a progressive agenda that also included cheaper groceries at government-owned stores

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