Tech Insider
Economy
Economy
Barry Sternlicht, Chairman and CEO Starwood Capital Group, speaking during a panel at the Milken Institute Global Conference in Beverly Hills, California,
Barry Sternlicht, chairman and CEO of Starwood Capital Group.

FREDERIC J. BROWN/AFP via Getty Images)

  • The Fed's rate hikes have had "zero impact" on the job market, Barry Sternlicht said.
  • The real estate mogul pointed to job growth in rate-sensitive areas of the economy.
  • Job losses in the services sector could push the US into a swift recession, he warned.

The Federal Reserve's aggressive inflation fight hasn't worked to cool off the job market, and the central bank risks sparking a "serious" downturn for US consumers, according to real estate billionaire investor Barry Sternlicht.

Tags
economy, Markets, job-market, job-market-outlook, fed-rate-cuts, fed-rate-cuts-outlook, fed-rate-hikes, fed-policy, Inflation, Layoffs, Employment, economy, fed-interest-rates
Source
Fed policy hasn't cooled the labor market and a 'serious consumer recession' co…