NEW YORK CITY–The latest CPI report is not as bad as it looked, the Fed understands this and therefore will proceed with rate cuts totaling at least 75 bps—in 2024.

That was the message from Dr. Thomas LaSalvia, Moody's head of commercial real estate economics, in his keynote presentation at GlobeSt.'s Spring Net Lease conference, held Wednesday at the Marriott Marquis in Times Square.

"I still believe in a 50 to 75 bps cut this year," LaSalvia said, to a burst of applause from the audience.

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