Artis Real Estate Investment Pref Shs Series E T.AX.PR.E

Fully accurate.

[garyreins]

 I'm no economist but even I saw this coming. 

"The economy is not doing what we expected it to do, which is cave,” he said. “And it’s very simple, and why Americans have jobs, their balance sheets are fixed. They have fixed-rate mortgages. They’ve got $235 billion of interest income from their cash that’s sitting in money-market accounts earning 5%.”

Cracks, however, have begun to appear in consumer credit following the Fed’s most aggressive rate hikes since the 1980s. But Sternlicht views the “biggest victim” of higher rates as being the federal government, which has seen its interest expenses roughly double since 2020 to $1 trillion.