Economists and market watchers have been anxiously waiting for the first interest-rate cut, monitoring key economic data for signs that policymakers are about to start easing. However, inflation rose 3.4% year over year in December, and it shows no signs of slowing dramatically enough to trigger a rate-cutting cycle.
At the iConnections Global Alts 2024 Conference, Barry Sternlicht, chairman and CEO of Starwood Capital, said that banks are in trouble, especially in terms of lending. In fact, debt funds are stepping up and lending money in places where banks were traditionally the primary players.
Banks are out of the lending market
According to...
