Charlie Munger, vice chairman of Berkshire Hathaway, told the Financial Times that the U.S. commercial property market is in trouble. “It’s not nearly as bad as it was in 2008,” he said. “But trouble happens to banking just like trouble happens everywhere else.”
Federal Reserve Chair Jerome Powell said Thursday that inflation remains too high and that bringing it down to the Fed's target level will likely require a slower-growing economy and job market.
