Fed will not cut rates in 2024: Apollo’s Slok

Timothy MooreBefore the Bell editor

Mar 2, 2024 – 4.39am

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The Federal Reserve will not cut interest rates in 2024 because the US economy is re-accelerating and inflation is proving too resilient, according to Torsten Slok, chief economist at Apollo Global Management.

“The bottom line is that the Fed will spend most of 2024 fighting inflation,” he said in a note. “As a result, yield levels in fixed income will stay high.”