Pugh Management Investor Letter: A new investment era with Fed rate cuts coming soon.

We enter a new era with the Federal Reserve Chairman Jerome Powell saying today, "The time has come to adjust interest rate policy". He signaled rate cuts are imminent due to the labor market softening and inflation falling below 2.5%. The dual mandate has been reached and he noted concerns about keeping monetary policy tight for any longer due to the potential to cause significant damage the economy. Gold, Bitcoin, and stocks surged on the day and real estate investors are hopeful to see a bottom soon. Pugh Management believes a lag is to be anticipated and the bottom for the real estate investment market will be put in over the next 18 months, while stocks could stabilize sooner and begin a long upward ascent.