Recession? What Recession? So says San Francisco Federal Reserve President, Janelt Yellen. Despite a feared change in weather for commercial Real Estate, Yellen assured SPUR that although it may currently be more difficult to finance commercial real estate, FiDi buildings are safe from the clutches of bankers, as the industry hasn't "engaged in overbuilding." That's a relief— we'll just turn a blind eye to all those cranes currently dotting our skyline. As to how they'll fend off a recession, Ms. Yellen overly explains a popular metaphor. "Our job is to make sure we create enough of a firewall...so fire doesn't hurt innocent bystanders." So that's how it works.
· SF Fed president sees continued threats to economy but no recession [SF Business Times]
· Commercial Cooldown in SF [Curbed SF]
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