Federal Reserve Chair Jerome Powell and his entire team should be cognizant of the fact that rents have been declining for many months. Despite this, Powell has been examining laggard data that persistently appears inflated.
Existing home sales in February jumped 14.5% to an annualized rate of 4.58 million, the largest monthly percentage increase since July 2020 and ending a 12-month slide, data from the National Association of Realtors out Tuesday showed.
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