CNBC reporting on comments from chief economist at Apollo Global Management, Torsten Slok:
- “The reality is that the US economy is simply not slowing down, and the Fed pivot has provided a strong tailwind to growth since December”
- “As a result, the Fed will not cut rates this year, and rates are going to stay higher for longer”
Slok listed ten reasons why he sees the Fed holding off, including
- “underlying measures of trend inflation are moving higher ... the Fed will spend most of 2024 fighting inflation”
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