Reported 22 days ago
Scott Kleinman, Co-President of Apollo Global Management, expressed skepticism over the likelihood of significant Federal Reserve rate cuts in the coming year, attributing this to persistent wage and housing inflation. He remarked that the market's high expectations for rate reductions are unlikely to be met without a recession, which he believes is not currently on the horizon. Kleinman highlighted that while traders anticipate multiple rate cuts, these prospects might be overly optimistic given the steady economic growth, albeit at a slower pace.
Source: YAHOO