Key Words: Global economy will ‘crumble’ if Fed doesn’t stop hiking interest rates, billionaire investor Sternlicht says

by | Oct 4, 2022 | Stock Market

““They are going to cause unbelievable calamities if they keep up their action, and not just here, all over the globe,” ”

— Barry Sternlicht, CEO, Starwood Capital Group 

Billionaire Barry Sternlicht, the chief executive officer and chairman of property investor Starwood Capital Group, has jumped aboard the bandwagon of people calling on the Federal Reserve to ease off its aggressive interest-rate hikes before something, somewhere, breaks. Speaking Tuesday during an interview with CNBC’s “Squawk Box,” Sternlicht said the Fed should pause to assess how its interest-rate hikes are impacting the economy, and that Federal Reserve Chairman Jerome Powell has already done “enough” to curb inflation.

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