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Bullish outlook: Family offices are the most bullish they’ve been in years, putting their cash to work in stocks and alternatives as the Fed starts to cut interest rates, according to a new survey. Nearly all family offices, or 97%, expect positive returns this year, and nearly half expect double-digit gains, according to Citi Private Bank’s 2024 Global Family Office Survey. Read more from CNBC.
Federal Reserve plan: The U.S. Federal Reserve’s watered-down version of a landmark bank capital proposal is facing resistance from the Federal Deposit Insurance Corporation, a top banking regulator. At least three of five FDIC directors oppose the latest overhaul, the report said, citing people familiar with their thinking. Read more from Reuters.
Construction starting: Crews will begin restoring Plank Road in October. The “Restoring Plank Road” initiative, part of the larger MovEBR Bus Rapid Transit Project, is one of 60 MovEBR projects completed or currently underway in north Baton Rouge. The 5.3-mile Plank Road stretch comprises the largest portion of the BRT Project. Learn more about the project.
