Barry Sternlicht on Fed intervention
From Sternlicht Weighs In on Fed's Emergency Measures, Economic Impact of Virus · · Bloomberg Television
“We can't buy anything and nobody really can buy anything until the debt market stabilized. So we need that's why today's announcement was so critical because yes it does put a floor under the most secure securities in the stack. So things that should be worth par or should be worth like a triple A bond to be worth a dollar and so now they will trade close to a dollar instead of at ninety cents.”
On , Barry Sternlicht, Chief Executive Officer & Non-Independent Executive Chairman of the Board at STARWOOD PROPERTY TRUST INC, spoke about Fed intervention during Sternlicht Weighs In on Fed's Emergency Measures, Economic Impact of Virus on Bloomberg Television.
About Barry Sternlicht
Barry Sternlicht, chairman and CEO of Starwood Capital Group, discussed his company's expansion into AI data center infrastructure during an interview at the Milken Institute Global Conference. He said that Starwood has been investing in data centers for five years and is working on its first data center project in Australia, citing activity by hyperscalers in Europe and Asia. Sternlicht noted that development yields and interest rates in Australia are similar to those in the U.S. and described the firm as agnostic about geography. Sternlicht also expressed concern about wealth disparity in the United States, stating that "half the country isn't doing so great" and that this could affect politics, real estate, and taxes. He said Starwood has "shied away from blue states lately because of their propensity to tax businesses and individuals," pointing to higher growth rates in Sun Belt states such as Nashville, Dallas, Atlanta, Raleigh, and Florida. On monetary policy, he argued that if oil prices spike, the Federal Reserve should lower rates to support interest-rate-sensitive parts of the economy like housing.