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JLL Real Views The Fed says the unemployment rate will stabilize for the remainder of the year (credit: JLL Real Views).

SAN JOSE—The Federal Reserve Bank maintained the federal funds rate at 1.125% and announced the beginning of balance sheet normalization, which will start next month, moves that were widely expected, according to third-party sources for City National Rochdale. The Fed stuck to its projection of one more rate hike this year, probably in December, say 11 of the 16 senior Fed officials.

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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