Apollo: Strong economy may prevent the Fed from cutting interest rates in November
Torsten Slok of asset management firm Apollo stated that due to continuous data showing relative strength in the US economy, the Federal Reserve may change its course and not cut interest rates at all. He said, "The Atlanta Federal Reserve's forecast for Q3 GDP is currently 3.4%, and the bottom line is that the economy will continue to expand." Slok believes that the economy benefits from favorable factors, including a dovish Federal Reserve, the end of election uncertainty, and easing geopolitical risks. Slok said that taking these factors into account, the Federal Reserve is more likely to maintain interest rates in November rather than cut them.
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