 Well, Fed Chair Jerome Powell informed Congress that the commercial property industry may face stress for years. He emphasized that banks must assess their risks honestly and ensure they have the capital, liquidity, and systems to manage these risks. Powell noted a noticeable cooling in the job market with the unemployment rate rising to 4.1% for the third consecutive month. Powell emphasized that while significant progress has been made in controlling inflation, it remains above the Federal Reserve's 2% target.