Fed Signals Rates Will Stay Near Zero for at Least Three Years
To help the economy recover from the pandemic, the Federal Reserve has indicated to hold the interest rates near zero through at least 2023. The officials have highlighted that the speed of the recovery is strongly dependent on the country’s ability to control the coronavirus. The agency also mentioned the need for additional fiscal stimulus to support jobs and incomes. For example, the central bank will continue its monthly purchase of treasuries and mortgage-backed securities of $80 billion and $40 billion, respectively.
Retail-to-Logistics Conversions Won’t Be Quick or Easy: Prologis
In general, converting non-performing retail centers into attractive distribution/logistics sites is sound a business model. However, the retail-to-logistics-conversion play is expected to much slower than anticipated. Despite the explosive growth of e-commerce and last-mile delivery during this pandemic and the resulting interest of retail-owners to convert their assets accordingly, the strategy is complex and faces major hurdles of economic, political, physical, and legal nature.