Jonathan Levin, Columnist

Inflation Worrywarts Are Crashing the Party

With no recession in sight, commentators are swinging back to concerns about a too-hot economy pressuring prices higher.

March 5, 2024 at 10:00 AM UTC

By Jonathan Levin

Jonathan Levin is a columnist focused on US markets and economics. Previously, he worked as a Bloomberg journalist in the US, Brazil and Mexico. He is a CFA charterholder.

Now what?
Photographer: Angela Weiss/AFP via Getty Images

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A curious thing has happened in the US market discourse: In the absence of major concerns about jobs and growth, commentators have started to worry that the economy is too good to keep inflation contained. The most salient recent example is Apollo Global Management Inc. Chief Economist Torsten Slok, who said last week that economic strength will prevent the Federal Reserve from cutting policy rates in 2024.

I, for one, am extremely skeptical.