Federal Reserve Governor Michael Barr indicated his readiness to support an interest rate hike if inflation continues to rise. His comments come amid ongoing high inflation and increasing Treasury yields, coinciding with escalating tensions in the Middle East. Barr is a voting member of the Federal Open Market Committee responsible for setting rates.
In New York, Mayor Zohran Mamdani is addressing affordability as a priority by forming a Business Advisory Council with 15 industry leaders. This council aims to provide recommendations for bolstering the city’s economy. Scott Rechler, CEO of RXR and a member of the council, discussed the significance of interest rates and the council’s initiatives during a recent interview.
For more insights, you can watch the interview in the video player above.
