Federal Reserve Bank speakers address monetary policies, market conditions

 

By David Weinstein, CPM

            At the January 19, 2007 IREM / CCIM Forecast Luncheon, we were treated to a presentation from Gary Zimmerman and Yelena Takhtamanova, economists with the San Francisco Federal Reserve Bank.  Yelena provided an overview of the roles of the Fed, as well as the Federal Open Market Committee (FOMC) summarizing its monetary policy, goals, the policy makers, the voting process, and meeting agendas. It was of interest to note that the (FOMC) Statement, which is released at 2:15pm EST after each meeting, is what directly affects the expectations about future fed fund rates. 

            Gary Zimmerman provided a closer look at the WesternStates, the state of California and the Bay Area. Gary indicated that in 2006, overall the Western state economies and job growth outpaced the nation although he did mention that Arizona, Nevada and the Central CA Valley had experienced a rapid housing market downturn.  In reference to California, there has been a sharp drop in housing prices most notably Sacramento and San Diego as well as a drop in appreciation of housing. It was good to see that the San Francisco-Oakland and San Jose Metro Area Job growth was outpacing the state of California growth.  Gary left us with a few concluding remarks regarding what we might see in California in 2007 - Tightening labor markets, slower job growth and softness in residential construction

                The PowerPoint program presented by speakers from the Federal Reserve Bank at the January Forecast luncheon is now available for downloading.  For the PDF document, go to: http://www.iremsf.org/Fed%20presentation%20Jan%2007.pdf.  To learn more about the FOMC and the Federal Reserve Board you can log on to their website at www.federalreserve.gov/fomc/.

Making your buildings 'greener"-

The LEED EB and Green Building Council

 

With rising energy costs, new building technologies and a growing awareness of "green" buildings, this program will explain the benefits and pitfalls of green programs for building owners and managers. Plan to join Sharon Refvem, president of the U.S. Green Building Council's Northern California Chapter for the February 23 Chapter Luncheon Meeting at the Bankers Club in San Francisco.  For details go to:http://www.iremsf.org/IREMFeb07LunchFlyer.pdf.

To register on-line, go to: http://guest.cvent.com/i.aspx?4W,M3,10bc0240-9979-4ce2-a787-1738e1ad3e61

 

 

For details, go to: http://www.iremsf.org/Wine%20reception%20Jan%2007%20final.pdf.  To register on-line, go to: http://guest.cvent.com/i.aspx?4W,M3,3ca644d5-b542-4bfb-9b06-4d07ffd08d0e.