Inflation is about to drop hard as rents and housing prices tank, billionaire investor Barry Sternlicht says

• Inflation will drop off, thanks to falling rent and housing prices, Barry Sternlicht said.
• The billionaire investor pointed to falling rents, which will show up in inflation data later this year.
• He warned high interest rates could overtighten the economy into a severe recession.

Inflation is about to fall off as rent and housing prices tumble, according to billionaire investor Barry Sternlicht.