'The economy is going to implode,' said Billionaire Barry Sternlicht, chairman and CEO of Starwood Capital Group. bankingcrisis Fed inflation
“I think you have to lower rates. That’s how you recapitalize the banks. I think they’ve done enough,” Sternlicht opined, adding:
The bond market is telling you what’s going to happen. The bond market is right. Interest rates have to fall. The economy is going to implode.signalingAsserting that Federal Reserve Chairman Jerome Powell “is using a steamroller to get the price of milk down two cents, to kill a small fly,” the Starwood Capital CEO stressed: “You do not have to see the car hit the wall to know it’s going 8,000 miles an hour and it will hit the wall.
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