RXR CEO Scott Rechler delivered a sobering message during a keynote presentation at CREtech New York on Tuesday that it's going to be a bumpy landing—and regional banks aren't out of the woods yet.
Rechler, who in addition to being one of NYC's largest building owners sits on the board of the New York Fed, called a recession "likely" in a Q&A conversation with Cherre CEO L.D. Salmanson entitled Recalibrating for the New Normal.
"Every day there are new developments that make it more turbulent," Rechler said. "Fasten your seat belts."
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