Barry Sternlicht Talks Fed, Regional Banks

Starwood Capital Group Chairman Barry Sternlicht said the US banking system’s exposure to declining commercial real estate values is one reason for the Federal Reserve to cut interest rates. Regional banks are holding nearly $2 trillion in commercial-property loans, said Sternlicht, and “valuations are obviously down.”He speaks with Bloomberg's Sonali Basak and Katie Greifeld  See omnystudio.com/listener for privacy information.