By Joseph Adinolfi
Billionaire Barry Sternlicht, the chief executive officer and chairman of property investor Starwood Capital Group, has jumped aboard the bandwagon of people calling on the Federal Reserve to ease off its aggressive interest-rate hikes before something, somewhere, breaks.
Speaking Tuesday during an interview with CNBC’s “Squawk Box,” Sternlicht said the Fed should pause to assess how its interest-rate hikes are impacting the economy, and that Federal Reserve Chairman Jerome Powell has already done “enough” to curb inflation.
The billionaire private-equity and real-estate investor said Fed may be misunderstanding the factors underpinning the global inflationary wave that saw consumer-price growth accelerate to its fastest level in more than 40 years.
While others have focused on rising prices of crude oil and other commodities, Sternlicht blamed the massive fiscal stimulus packages approved by…