Skip to main content
Back to Top
Speak to a specialist 800-576-9355

CNBC: 'The Economy is Breaking Hard' and CEO Confidence is Miserable, Says billionaire Investor Barry Sternlicht

September 15, 2022
Market Crash Warning

Article by Michelle Fox in CNBC financial

The U.S. economy is teetering on the brink of serious downturn if the Federal Reserve doesn’t pump the brakes on its rate hikes, billionaire CEO Barry Sternlicht said.

The central bank has already raised interest rates four times this year and is widely expected to hike them by 75 basis points next week in an effort to tame inflation. Earlier this week, consumer prices rose 0.1% instead of the 0.1% decline economists surveyed by Dow Jones were expecting.

However, Sternlicht believes the Fed was late to the game and is now being too aggressive.

“The economy is breaking hard,” the ........

To read this article in CNBC website in its entirety, click here.

Secure Your Retirement with Gold

Free 2022 Gold Kit
Gold Kit
By clicking the below button, you agree that Lear Capital can contact you at the e-mail and telephone number provided (including autodialed/auto-selected and prerecorded calls or text/SMS messages) with marketing offers. Msg. and data rates apply. Your consent to such contact is not required for purchase.
We respect your Privacy