Day: March 26, 2023

Billionaire Barry Sternlicht Warns of Hard Landing — Says ‘Economy Is Going to Implode’ – Economics Bitcoin News

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Billionaire Barry Sternlicht, chairman and CEO of Starwood Capital Group, has warned that the U.S. economy is going to implode, emphasizing that interest rates have to fall. He further stressed that the economy “will have a hard landing.” Barry Sternlicht on Hard Landing, Economic Implosion The chairman and CEO of Starwood Capital Group, billionaire Barry Sternlicht, discussed the state of the U.S. economy in an interview with CNBC on Thursday. Following the Federal Reserve hiking interest rates by 25 basis points (bps) on Wednesday, Sternlicht reiterated that the Fed should…

US explores additional bank support, favoring First Republic’s benefit: Report

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United States authorities are reportedly deliberating on “expanding” an emergency credit line for banks, which may provide First Republic Bank a time buffer to address balance sheet concerns, according to people familiar with the situation. In a March 26 Bloomberg report citing unnamed sources, it was reported that U.S. officials are ruminating on what support, “if any,” can be provided to First Republic, however an “expansion of the Federal Reserve’s offering” is one of the options being explored. First Republic was reportedly deemed “stable enough to operate” by regulators without…

US contemplates ‘expanding’ emergency lending facility for banks: Report

United States authorities are reportedly deliberating on extending an emergency credit line for banks, “in ways” which may provide First Republic Bank with a time buffer to address its balance sheet concerns, according to people with knowledge of the situation. In a March 26 Bloomberg report citing unnamed sources, it was reported that U.S. officials have not decided on what support, “if any,” they can provide to First Republic, however an “expansion of the Federal Reserve’s offering” is one of the options being considered. First Republic was reportedly deemed “stable…

‘I Fear We Are Heading for a Train Wreck’ – Economics Bitcoin News

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Billionaire Bill Ackman has warned that the U.S. economy is “heading for a train wreck” if the government allows the current banking crisis to continue. “Trust and confidence are earned over many years, but can be wiped out in a few days,” he said. “Hopefully, our regulators will get this right.” Bill Ackman’s Warning Billionaire Bill Ackman, CEO and portfolio manager of Pershing Square Capital Management, has warned of an incoming train wreck. Pershing Square is a hedge fund management company with approximately $18.5 billion in assets under management. Ackman’s…