National lawmakers and Real Estate Roundtable members met this week to discuss domestic and geopolitical issues affecting the economy and industry—including inflation and the Fed; the congressional legislative agenda; and the war in Ukraine. The Roundtable’s 2022 Spring Meeting also featured a discussion on climate-related financial and regulatory proposals. (Roundtable April 2022 Policy Issue Profiles and Executive Summary)
Senator Sinema & Market Conditions
- A discussion with Sen. Kyrsten Sinema (D-AZ), above, on policymaking in the Senate launched The Roundtable meeting on April 25.
- Roundtable Chair John Fish (Chairman & CEO, Suffolk) and Roundtable President and CEO Jeffrey DeBoer led a dialogue among industry executives and House and Senate members on CRE market conditions. Roundtable members offered their views on inflationary pressures, supply chain disruptions, and back-to-office challenges.
Ukraine, Climate and the Fed
- On April 26, Roundtable members convened for policy discussions with the following guests:
- Lieutenant Colonel (Ret.) Alexander Vindman
A 20-year military veteran, former Director with the White House’s National Security Council, and now a senior advisor with VetVoice Foundation, Mr. Vindman addressed the war in Ukraine. “It is a geopolitical earthquake that will shape how power is used in the 21st century,” Vindman said, adding that an eventual reconstruction effort will require a massive international effort involving public-private partnerships and private equity. (Photo: left to right, Jeffrey DeBoer, Mr. Vindman, and John Fish)
- Senator Bill Cassidy (R-LA)
As a member of the Senate’s Committee on Energy and Natural Resources, Finance, and Joint Economic Committee, Sen. Cassidy provided his insight on the congressional agenda, including economic and energy policy issues. “The real estate sector acts as both a leading indicator and a reflection of what is happening in our communities across the country,” said Cassidy, above left. At right is Roundtable Chair John Fish.
- Climate Panel
A Roundtable panel addressed climate-related issues and their impact on investor demand, property values and interest rates. (Video of the discussion). The panel also discussed regulatory issues such as the SEC’s proposed climate risk disclosure rule. (Roundtable Weekly, March 25). Speakers included:
- Senator John Hickenlooper (D-CO) above right, part of a bipartisan group of Senators working on comprehensive energy reform legislation.
- Panel moderator Tony Malkin, left, (Chairman, President, and CEO, Empire State Realty Trust and Chairman of The Roundtable’s Sustainability Policy Advisory Committee).
- Roy Hilton March (CEO, Eastdil Secured), above left,
- Kathleen McCarthy (Global Co-Head, Blackstone Real Estate), center, and
- Bill Stein (CEO, Digital Realty Trust), right.
- Former Fed Board Member Kevin Warsh
Warsh, above left, a former member of the Fed Board of Governors (2006-2011), discussed the Fed’s potential actions to temper inflation and guide the economy to a “soft landing” with Roundtable Member Scott Rechler, right, (Chairman & CEO, RXR Realty), who serves on the Federal Reserve Bank of New York’s Board of Directors.
Next on The Roundtable’s meeting calendar is the all-member June 16-17 Annual Meeting in Washington, DC.
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