Ken Griffin

She very much wants to accelerate

the permitting process for builders to create more housing stock.

She wants to help release lands into the private market to help increase available housing.

She wants to address the issue of housing affordability with thoughtful, time-tested, and proven policies, rather than the fantasy that's being espoused by mayor-elect for New York City.

Look, I think that New York City is a red flag because people put aside good sense and common sense to elect somebody who is incredibly charismatic, who ran a really powerful campaign on social media.

but who ultimately doesn't have the ability to deliver on the promises that he set forth.

In contrast, I think the mayor-elect of Miami, she ran on a much less powerful set of campaign messages, but do you know what?

She'll deliver on the promises that she made to the voters of Miami.

Look, I think every business executive is thinking through the magnitude of exposure they have to New York.

And there is a very common talking point on this.

We survived de Blasio.

Is that enough comfort?

Well, that's the talking point.

And unfortunately, I think there's some truth to that.

New York took a big step back during the de Blasio days, and I hope that Mondami starts to think about how to pivot to a more thoughtful set of policies that will allow New York City to maintain its position, not only as one of the greatest cities in America, but one of the greatest cities in the world.

Well, unfortunately, the bond markets are expressing their anxiety about inflation.

And when you look at the 10-year yield point or the 30-year yield point, what you're really observing is how much risk premium, how much insurance premium does the market demand for higher inflation?

Because remember, you're lending the money to the US government for 10 or 30 years at a time at a fixed rate.

So you want to think very long and hard about what rate do you lend money to the US government, which is running a staggering deficit,

that is now running very, very easy monetary policy relative to the inflationary pressures that we're facing.