Top-of-mind economic news as we start the week:
— First Republic was acquired by JP Morgan Chase in a deal brokered by the FDIC, which will assume some of the losses on the bank’s loan portfolio.
— A key measure of US inflation — the Personal Consumption Expenditures (PCE) Index — slowed to 4.2% for the 12 months ended in March, down from 5.1% through February.
— This week, the Federal Reserve is expected to raise its key interest rate by 0.25 basis points, to 5% – 5.25%, the highest since 2006; speculation this will be final rate hike.
— Sales of new US homes surged 9.6% in March, with higher mortgage rates being offset by mortgage buydown programs; prices rose.
— Blackrock, Daimler, and NextEra will invest $650 million to create a US network for charging electrically powered trucks and other commercial vehicles.
Disclaimer: Clicking on any of the above links will take you away from the Laird Norton Wealth Management web page and to the source page. While we believe the information in these articles is relevant, we cannot guarantee its accuracy or completeness.