American Banker: Rising rates, remote work put commercial real estate on Fed official's radar
Esther George, president of the Federal Reserve Bank of Kansas City, has commercial real estate on her radar for financial risks as the central bank tightens monetary policy.

Speaking with economist Peter Blair Henry during a webinar hosted by the Economic Club of New York on Wednesday, George said the combination of higher interest rates — raising the cost of CRE financing — and the pandemic-era shift toward remote work could hurt property owners and their lenders.

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CNBC Treasury yields fall as investors keep watch over bond spreads

In a speech to the Economic Club of New York, Kansas City Fed President Esther George said the curve didn’t necessarily signal a recession but could be a headwind for some banks.

“My concern about an inverted yield curve does not reflect its intensely debated value as a predictor of recession. Rather, my view is that an inverted curve has implications for financial stability with incentives for reach-for-yield behavior,” George said.

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