Reported about 16 hours ago
Apollo Global Management's chief economist, Torsten Sløk, asserts that the US economy remains robust, negating the need for further interest rate cuts this year. He explains that previous rate hikes have not negatively impacted the economy due to favorable factors such as the energy transition and consumers locking in low rates during the pandemic. Sløk warns that premature cuts could risk reigniting inflation, particularly in the housing market, which significantly influences the Consumer Price Index.
Source: YAHOO