Howard Lutnik, CEO of Cantor Fitzgerald, recently shared his insights on the future of the crypto industry, highlighting Tether and Bitcoin during the CNBC Money Movers Podcast. As the CEO of a global, full-service financial services firm, including institutional equity, investment banking, commercial real estate, and bond custody, Lutnik offers a unique lens through which to view the intersection of traditional finance and the evolving digital asset landscape.
Setting the macro-economic picture, Lutnik stated that the Federal Reserve will likely undertake a steady approach to interest rate adjustments, predicting a substantial wave of defaults in the real estate sector in 2024. He further suggested that these defaults might not lead to systemic financial distress due to sound underwriting practices post-2008. He also highlighted the potential for stable growth in the tech sector and banking, buoyed by steady interest rates rather than the rate cuts predicted by others.
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