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The legislative sausage-making factory has been running 24/7 for weeks now, and it looks like we are finally getting close to the end of the line in terms of the Build Back Better Act and the so-called Bipartisan Infrastructure bill.
Since the new administration took the reins back in January, we have closely followed what was originally dubbed the American Families Plan, a massive social spending proposal that included several potential tax hikes that would impact commercial real estate markets across the country.
Recently, we wrote a post on the potential impact of inflation on the local and national economy. After years of easy monetary policy aimed at an inflation rate of 2%, the Fed was caught flatfooted when both their measures of inflation spiked to more than double their target.
All of us in the business community must deal with uncertainty no matter what condition our local, state and national economies are in.
Some of you may remember the early 1980’s run-up of inflation that ran into double-digits. If you do, you’ll also remember what happened to interest rates when Fed Chairman Paul Volcker intervened to get inflation under control.