Fed policy hasn't cooled the labor market and a 'serious consumer recession' could strike if services jobs tumble, real estate billionaire Barry Sternlicht says

• 04/06/2024, 9:49 AM
• businessinsider.com

FREDERIC J. BROWN/AFP via Getty Images)

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.