Henry Kravis, the king of rough-and- tumble leveraged buyouts, picked up a phone at his home in Palm Beach, Florida, and called the chief executive officer of one of Spain’s biggest producers of building materials.
All Aboard Florida, a unit of Fortress Investment Group LLC, issued $405 million of debt to help finance a high-speed railway along the state’s eastern coast over the opposition of some local residents.
Federal Reserve Bank of St. Louis President James Bullard, speaking to the Tennessee Bankers Association in Palm Beach, Florida, says the Fed “faces a classic challenge concerning the appropriate pace of monetary policy normalization,” as inflation and employment near its goals. *Unemployment has continued to decline and inflation is low but moving back toward the Federal Open Market Committee’s 2% target: Bullard *The “monetary policy stance remains far from normal, despite recent reductions in the pace of asset purchases:” Bullard *“Today, the FOMC is much closer to its macroeconomic goals:” Bullard *“The FOMC is closer to target today than it has been most of the time since 1960,” Bullard says, referring to both inflation and unemployment *Labor markets do not seem to be fully recovered and, while inflation is low, it’s moving back toward the FOMC’s target: Bullard *Debate over how quickly to return policy to normal “is likely to garner
For the first time since the U.S. housing crash, new condominium towers are sprouting in downtown Boston, Seattle and Los Angeles as developers bet on the return of the riskiest type of residential real estate.