Reported 8 months ago
The chief economist of Apollo Global Management stated that the U.S. Federal Reserve is unlikely to cut interest rates in 2024 due to easier financial conditions offsetting borrowing costs. Despite initial projections of multiple rate cuts, current expectations have lowered to about two 25 basis point cuts amidst economic slowdown and low inflation. The economist emphasized the need for time for high interest rates to impact the economy and inflation, as current conditions are still benefiting consumers and companies from a strong stock market and fixed income returns.
Source: YAHOO