W. Blake Marsh

Sep 4, 2024 | kansascityfed.org | Matt Hanauer |W. Blake Marsh |Nicholas Sly

Subscribe Share Download Article Changes in the price of multifamily properties are important to monitor for both economic and financial stability reasons. The multifamily real estate market is one of the largest investor asset classes in the United States: as of mid-2024, multifamily properties have an estimated market capitalization of $4.6 trillion.

Jun 25, 2024 | kansascityfed.org | Karlye Dilts Stedman |W. Blake Marsh |Phillip An

Subscribe Share Download Article Business cash holdings have soared since the onset of the COVID-19 pandemic amid surging fiscal spending, a growing Federal Reserve balance sheet, and rising economic uncertainty. As a result, cash holdings relative to GDP remain substantially higher than pre-pandemic levels for both large corporate firms (Chart 1, blue line) and smaller, non-corporate firms (purple line).

Apr 18, 2024 | kansascityfed.org | W. Blake Marsh |Jordan Pandolfo

Subscribe Share Download Article Both higher interest rates and a decline in office attendance have prompted concerns about bank exposure to commercial real estate (CRE) risk. Banks are major lenders in the CRE market, providing nearly $3 trillion in financing to the sector. Moreover, CRE lending can make up a significant share of a bank’s total loan portfolio, particularly at small and regional banks.

Feb 7, 2024 | kansascityfed.org | W. Blake Marsh |Padma Sharma |Chris Acker

Subscribe Share Download Article Over the past year, banks continued to experience deposit outflows. First, monetary policy actions increased short-term interest rates, which enticed many depositors to seek more profitable investment opportunities. Second, banking stress episodes led some large depositors to question the safety of bank deposits and seek alternatives. In response, banks raised deposit rates to retain their core funding.

Feb 2, 2024 | kansascityfed.org | Huixin Bi |W. Blake Marsh |Phillip An

Subscribe Share Download Article In recent years, the Federal Reserve tightened monetary policy at an unprecedentedly rapid pace to quell post-pandemic inflation. Since March 2022, the target federal funds rate—the Fed’s preferred policy lever—has increased 525 basis points. In response, market interest rates have broadly risen across the economy, leaving businesses’ borrowing costs higher than levels that prevailed before the pandemic.