Apollo’s Torsten Slok Says Fed Will Not Cut Rates in 2024
- Chief economist flags surge in US growth, sticky inflation
- “Fed will spend most of 2024 fighting inflation,” Slok said
This article is for subscribers only.
Apollo Management Chief Economist Torsten Slok said that a re-accelerating US economy, coupled with a rise in underlying inflation, will prevent the Federal Reserve from cutting interest rates in 2024.
“The bottom line is that the Fed will spend most of 2024 fighting inflation,” Slok wrote in a Friday note to clients. “As a result, yield levels in fixed income will stay high.”